CHINA-ECONOMY: STATE PURCHASE OF SYGENTA

 A 92-year old former Minister of the PRC's Ministry of Chemical Industry, Qin Zhong-da and over 400 individuals in a letter dated March 31, 2016 raised 4 pointed questions regarding ChinaChem Group's announcement of February 2016 that they will acquire Syngenta for US$ 43 billion (about RMB300 billion). Asking the CPPCC and other bodies to enquire into the proposed purchase, the letter cited media reports as disclosing that "evil backstage manipulators" namely The Blackwater Group and JP Morgan - Chase are involved in arranging US$ 50 billion in loans financing. It said "Syngenta, previously headquartered in Switzerland, is the third largest GM seed company of the world and is notorious in the introduction of the first generation GM crops. Syngenta is active in developing the next generation of GM crops, such as GM soybeans SYHT0H2, RR2 Yield-SCN, GM maize Agrisure VipteraGMIR162and Golden Rice. They might cause even greater risks, and will cause widespread and uncontrollable contamination to Chinese staple crops, and cause serious harm to the health of Chinese consumers, to food safety and to the livelihood of Chinese farmers. Syngenta is also the developer and main producer of Atrazine (called You Qu Jin in China), Paraquat (Gramoxone), Dicamba and other high-risk pesticides".







Subscribe to Newswire | Site Map | Email Us
Centre for China Analysis and Strategy, A-50, Second Floor, Vasant Vihar, New Delhi-110057
Tel: 011 41017353
Email: office@ccasindia.org