China to Allow Genetically Modified Seeds in Corn Production

After China proposed new regulations last month that could open genetically modified (GM) seed to its $120 billion corn market, Dabeinong Biotechnology aims to gain the early mover advantage in an environment where the law prohibits the involvement of foreign firms.

With barriers on GM seed lifted, China, the world’s second largest corn producer, expects the yields to increase significantly. The move also raised hopes of a reform in the oversupplied seed market, which could eventually open up to global players.

The draft of regulations lay out the steps for approval of GM seeds, which could help open the market next year.

The Chinese government has said it would prioritize local companies, with Dabeinong’s product already approved as safe by the Ministry of Agriculture.

Dabeinong expects to have two thirds of the market share for the first two years because of early mover advantage together with the conviction of having the better technology.

Dabeinong Biotechnology was founded in 2011 as a unit of large animal feed producer, Beijing Dabeinong Technology Group. One of the senior executives of the parent company was sentenced to three years in prison in the United States in 2016 for stealing corn seeds from fields in Iowa and Illinois.

Need to access the insight?

Start your 7-day free trial now

Need to access the insight?

Start your 7-day free trial now

Need to access the insight?

Start your 7-day free trial now

Do you need to access special insights on this matter?

Start your 7-day free trial  and become a member today

Get your daily Business Brief

Subscribe free to Business Brief

Business Brief delivers the latest insights straight to your inbox

You'll get daily industry insights on

Energy, Cleantech, Oil & Gas, Mining, Defense, Aviation, Construction, Transportation, Online Retail, Bigtech, Finance and Politics of Business

By clicking subscribe you agree to our privacy and cookie policy and terms and conditions of use.

Read more insights

European Governments Have Spent €800 Billion to Shield Consumers from Energy Crisis

European governments’ total spending to shield consumers from soaring energy bills has reached almost €800 billion. Since September 2021, considered as the starting point of the current energy crisis, the European Union has allocated €681 billion on energy crisis response, while Britain earmarked €103 billion and Norway €8.1 billion. The €792 billion total is €86 billion higher than the last assessment in November, as the region continues to face the consequences of Russia cutting off most of its pipeline gas flows to Europe in 2022. 

U.S., China Competing Over Development of First Hypersonic Missile

The United States and China are competing to develop the most advanced hypersonic weapons as the two countries build and test more and more of the next generation arms. U.S. Air Force Secretary Frank Kendall says this is a race for quality, not quantity and adds that it has been going for some time and China has been “very aggressive”. 

U.S. Set to Impose 200% Tariff on Russian Aluminum

The United States is preparing to hit Russian aluminum with a 200% tariff as soon as this week, as part of the West’s bid to keep pressure on Russian economy as the one year anniversary of Moscow’s Feb. 24 invasion of Ukraine nears. Biden is yet to give the green light for the measure, but there are concerns in the administration that the tariff’s impact on U.S. industies could be significant. The U.S. has been considering a move on Russian aluminum for months. It is also set to be imposed because Russia, the world’s second largest aluminum producer, has been dumping supplies on the U.S. market, harming domestic producers.   

Stay informed

error: This content is protected !!