Nestle counting on authorities to stir China consumption

Nestle (NESN.VTX) expects the Chinese government to bolster domestic spending in the second half of the year as the company feels the slowdown in the country’s growth, Bloomberg reported. “They are not growing as fast as they used to be,” Roland Decorvet, the company’s Greater China chairman and chief executive officer, said Thursday on the sidelines of the World Economic Forum in Dalian, China. The Swiss company will rely on China, the world’s second-largest economy, to boost sales as other emerging markets slow down. The company opened two factories in China this year, costing about US$490 million, anticipating higher demand.