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China likely to enact new seed law in August

China will roll out the new seed law in August, in an effort to break the bottleneck restricting development of the modern seed industry, which will be good news for the seed industry.

The new seed law will reduce categories of crops for review and approval, and build a green channel for variety certification, and enact variety exit regulations.

Under the new seed law, the variety certification will be more market-oriented, which will help leading enterprises to focus on variety R&D and enhance efficiency of seed breeding and launching new products.

Meanwhile, the Ministry of Agriculture started to examine exports of seed parent, which will benefit Longping High-tech (000998.SZ). Earlier, Longping High-tech carried out product R&D and promotion in the Southeast Asia region.

The seed parent exports will accelerate its product R&D in the region and copy the second such company overseas, said industry insiders.

On China's A-share market, companies including Longping High-tech and Denghai Seeds (002041.SZ) will benefit from the roll-out of the new seed law.