China Plans Overhaul of Seed Rules to Pave Way for GMO Approvals
China plans an overhaul of its seed regulations setting out a clear path for approval of genetically modified crops, in a major step towards commercializing GM corn, according to The Hindu.
The changes mean that a handful of recently approved GM traits developed by Chinese companies could be ready for market launch in a year.
“It’s a big step,” said Liu Shi, a vice president of Beijing Dabeinong Technology Group Co Ltd., which has several GM traits approved as safe and is expected to be one of the first firms to commercialize GM corn in China.
Shares of Dabeinong shares fell 6% on Monday, while those of rival Yuan Longping High-Tech Agriculture Co Ltd. fell 10%.
China’s leadership called last year for an urgent “turnaround” in the seed industry, which is struggling with overcapacity and rampant infringement of intellectual property that has stifled innovation.