China plans overhaul of seed rules to pave way for GMO approvals
Dominique Patton, Reuters
via Yahoo Finance - November 14, 2021
BEIJING, Nov 15 (Reuters) - China has laid out a clear path for seed makers to get approval for genetically modified crops, under proposed rule changes that should lead to commercial cultivation of GM corn.
Details of the planned regulatory overhaul for the seed industry were published on Friday by the agriculture ministry in a draft document that is open for public comment until Dec. 12.
The proposed 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 commercialise 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...