China to found pesticide giant

China Development Bank joint hands with Chem China on March 7 to fast-track the integration and reshuffling of China's pesticide businesses.

China has some 2000 pesticide producers whose share on the international market accounts for merely 5 percent. Chem China plans to create a state-owned pesticide maker with annual production value topping 10 billion yuan in five years.

This aims to build a mechanism bringing a lasting income increase source for farmers and improving the competitiveness of China¡¯s pesticide industry.

By People's Daily Online