This month the Overseas Investment Commission approved the building of a $212 million dairy processing plant by Chinese dairy company Yashili in Pokeno, New Zealand. This will be the first Chinese dairy plant to be established in the country. Yashili, which Carlyle Group owns a stake in, has been sourcing milk powder and dairy products from New Zealand for more than 10 years and has had market growth in the double digits. The company plans to use Fonterra and other existing companies to source their milk and hopes to export 52,000 tons of milk powder to China annually by 2014.