Yili Group was honored for its performance and innovation at a conference on food development in China, on Nov 20.

Yili reported revenues of nearly 61.33 billion yuan ($8.80 billion) for the first nine months of this year, with a net profit of 5.06 billion yuan, making it the top earner in the Chinese dairy industry.

Dairy experts said that Yili has maintained a good momentum of growth and is not far off becoming one of the top five dairy companies in the world.

The firm’s pursuit of quality and innovation has kept it near the top of China's dairy industry.

Yili has continued to make great efforts to bring new products to market through innovation. Its latest products such as Joy Day ice cream are now available in four Indonesian cities and are proving popular among local consumers.

It promotes a strict quality control system in all aspects of its industrial chain. During the China International Import Expo (CIIE) which concluded on Nov 10, the firm signed agreements with 32 companies, including the Switzerland-based quality control company SGS and the French quality inspection firm Bureau Veritas to enhance cooperation in research and quality control.

According to Yili, it will take the lead role in the transformation and upgrading of China's dairy sector to forge a new path for growth and instill new vitality into the world economy.