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2021-11-16

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UPDATE 1-China plans overhaul of seed rules to pave way for GMO approvals

(Changes date, adds share moves, comment) By Dominique Patton BEIJING, Nov 15 (Reuters) - China

UPDATE 1-China plans overhaul of seed rules to pave way for GMO approvals

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Investors had long priced in government support for GM breeding, said an agriculture analyst with a Shanghai-based investment fund who declined to be identified. The changes implement decisions by the cabinet and the powerful central committee of the ruling Communist Party on safe management of GMOs and development of a modern seed industry, the ministry of agriculture and rural affairs said in its statement. Top policymakers have also urged progress in biotech breeding, or GM crops, seen as key to ensuring food security. Beijing, which has invested heavily in GM research and development for years, has been cautious about commercialising plants in the food chain, barring planting of GM soybeans or corn, despite allowing imports for use in animal feed. The key changes bring China's regulations more in line with those of other markets. 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