May 2, 2022
China plans to approve Syngenta-developed GMO corn traits
China's Ministry of Agriculture and Rural Affairs said it plans to approve GMO corn traits developed by Syngenta Group, Reuters reported.
The Swiss agrichemical giant has developed two GMO corn traits Bt11×MIR162×GA21 and Bt11×GA21, which are insect and herbicide tolerant.
If approved, it is a landmark milestone for the company as it aims to become the market leader in China's GM market. Syngenta is the third biggest seed producer in the world and is owned by China's Sinochem Holdings.
China is also planning to approve a herbicide-tolerant variant developed by Hangzhou Ruifeng Bio-Tech Co Ltd, as well as another corn product from the China National Seed Group.
The Chinese government has given safety approval to a few local GMO corn traits, and has proposed a change to seed laws to allow for GMO crop approvals as it aims to prepare for commercial cultivation of the grain.
Syngenta plans to raise US$10 billion in an initial public offering (IPO) in China this year.