Will the Purchase of Syngenta by a Chinese Firm Help in Biotech Acceptance?

February 18, 2016

ChemChina’s recent purchase of Syngenta, the largest foreign acquisition by a Chinese firm at $43 billion, could lower Chinese suspicion of genetically modified (GM) crops.  Swiss-based Syngenta would also gain unparalleled access to China’s enormous but fragmented and underdeveloped crop market.  China is the largest grain producer and major leader in vegetable, oilseed, cotton, and sugar production. GM cultivation is still illegal in China, though there are signs that the government wants to adopt more use of GM technologies, though it is doing so cautiously.  Much of the Chinese population has been skeptical of GM technology as it has long been seen as something controlled by foreign companies, but with the recent purchase this may change. 

China’s long-term agricultural focus has sought to achieve food security as well as modernize the agricultural sector.  According to Syngenta Chief Operating Officer Davor Pisk, ChemChina will continue to support Syngenta’s long-term goals of innovation and expansion in emerging markets.

To view an article from Reuters, click here.

 

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