A General Mills subsidiary has invested US$13 million into a new plant in Shanghai, China Business News reports. The new facility, which broke ground on Friday, will expand the Shanghai production capacity of the company's Wanchai Ferry brand. Wanchai Ferry has grown rapidly since General Mills formed a joint venture with the brand's Hong Kong parent in 1998; according to General Mills greater China regional president Zhu Xi, total sales have increased more than ten times since that date. Zhu predicts that demand will increase 20% annually; the new plant is intended to fulfill that need. There is great potential for the brand's frozen dumplings in the fast-paced lives of the people of Shanghai, said Zhu. Wanchai Ferry frozen dumplings cost roughly twice the market average, and its frozen wontons are 1.73 time the average price. However, the brand holds a 32.8% market share in Shanghai and more than 50% of the market in Guangzhou. Link: http://finance.sina.com.cn/chanjing/b/20060220/07112355349.shtml