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On March 9, 2018, Jiangsu Huifeng Petrochemical Co., Ltd. (Huifeng Petrochemical), a wholly-owned subsidiary of Jiangsu Huifeng Bio-Agriculture Co., Ltd. (Jiangsu Huifeng), signed the Investment Cooperation Framework Agreement with Huagang Gas Group Co., Ltd., and Jiangsu Dafeng Harbor Holdings Co., Ltd.
Zhejiang Wynca Chemical Group Co., Ltd. intended to invest USD2.2 million to acquire shares of Hubei NJF Agricultural Means of Production Co., Ltd. (NJF) from its shareholders. After this transfer, it planned to take 4.50 million shares newly increased in the company at USD0.3/share by contributing USD1.3 million. Then Zhejiang Wynca will in total invest USD3.5 million and hold 12.50 million shares in NJF, making up a 51% stake.
Since the second half of 2017, under the effect of the environmental protection examination, chemical enterprises had to stop or restrict production, which caused serious short supply of pesticide technical and intermediates and low operating rate of technical enterprises. Moreover, some producers engaged in trading raised the pesticide technical prices and by Nov. 2017, they reached the highest and didn’t fall. Except for some price reduction of some special products, most pesticide technical products maintained at a high price level though the prices didn’t go up to a large extent.
On 27 Feb., 2018, the Ministry of Environmental Protection (MEP) responded to the public that the law enforcement of environmental protection cracks down illegal enterprises and supports legal ones. During the process, some law-violating and under-standard enterprises must be confronted with huge impact or even phasing out, which is a necessary regularity in economic development.
The 2018 Session of Nanjing People's Congress announced to specifically reduce coals and chemicals in Nanjing, Jiangsu Province in 2018, by shutting down 40 chemical enterprises. Meanwhile, an action will be taken to govern the chemical enterprises in the province this year.
In January 2018, the Ministry of Agriculture (MOA) held a conference on market information of key agricultural products to inform the market operation of major agricultural products in 2017, and reminded that it was inappropriate to blindly expand corn planting in 2018 to avoid the situation of increasing output without increasing income.
On January 20, 2018, the US FDA Web (https://www.accessdata.fda.gov/scripts/fdcc/?set=Biocon) published dossiers and related letters on the safety and nutritional evaluation report of GM insect-resistant rice "Huahui No.1" (华恢1号) submitted by Huazhong Agricultural University. On the website, US FDA informed that it has completed the consultation on the safety evaluation of "Huahui No.1".
On January 25, 2018, the Ministry of Agriculture promulgated a notice on 2018 agricultural genetically modified organisms (GMOs) supervision
On 30 Jan., 2018, Nantong Jiangshan Agrochemical & Chemicals Co., Ltd. (Nantong Jiangshan) announced that its largest shareholder Sinochem International Corporation (Sinochem International) was planning to let out of its stake of 29.19% and was seeking potential transferees. As of 28 Jan., Sinochem International held altogether 86.7 million shares in Nantong Jiangshan.
In January 2018, Zhejiang, Guangdong and Jiangsu provinces in succession released their Proposal to Relocate and Reconstruct Hazardous Chemical Manufacturers in Highly Populated Urban Areas.