China should step up efforts to become self-sufficient in AgTech, according to Xi Jinping. Among the areas to concentrate on are seed development and core equipment, according to official media. Despite having few sizable commercial enterprises that participate in long-term research and development, China has made significant financial investments in fundamental agricultural research.
Following the easing of the Zero-tolerance measures that have dictated the lives of billions of people in China, president, Xi Jinping urged in an interview with state media to concentrate more efforts on the development of agricultural technologies to guarantee certain food security in the country. Reuters reported that “To attain self-reliance in agricultural technology, President Xi Jinping urges China to step up its efforts. Specific areas to concentrate on include seed development and core equipment”
Over the years, China has taken an important place in the AgTech world with large investments and companies expanding their footprint worldwide. Farm66, Future Crops, and Sananbio are some of the agri-tech companies that have announced successful funding rounds led by Chinese investors. DCM Ventures is a prominent investor in tech companies with various investments in Chinese Tech companies. WI Harper Group is a venture capital firm that focuses on early and expansion investments in Mainland China, Taiwan, and Silicon Valley. Bright Seed Base is a subsidiary of Bright Food Group, one of the largest China-based food manufacturing companies in the world. It grossed approximately USD $23.2 billion (RMB ¥155.7 billion) in revenue in 2020. Some projects are underway with Bright Seed Base to build vertical farming facilities throughout the country and the subsidiary has recently partnered with Mary Agrotechnologies, Inc.
Read more in our latest newsletter, What if The Most Important Threat to Western Indoor Farms Wasn’t Soaring Energy Prices Nor Transparency Issues But Geopolitical Tensions With China?
Image provided by Zhang Kaiyv
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