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On 3 June, 2015, Jiangxi Zhengbang Technology Co., Ltd. (Zhengbang Technology) signed an agreement with Jiangxi Zhengrong Asset Management Co., Ltd. (Zhengrong Asset), planning to set up a new company temporarily named Jiangxi Zhengnongtong Internet Technology Co., Ltd. (Zhengnongtong Internet, formal name to be approved by industrial and commercial administrative department) with a registered capital of USD32.7 million. Zhengbang Technology will hold 95% share in the new company by contributing USD31.0 million taken from its owned funds.
On 22 May, 2015, Hangzhou Yuhang District People's Court made a criminal judgement on the environmental pollution case involving Jiande II Chemical Factory, an affiliated factory of Zhejiang Wynca Chemical Group Co., Ltd., and other 2 companies as well as 10 individuals. The Jiande II Chemical Factory committed the offense of environmental pollution and was fined USD10.3 million (RMB63.0 million).
On 21 May, 2015, Meihua Biotechnology Group Co., Ltd. (Meihua Bio) published a notice about the final decision from the United States International Trade Commission, Department of Commerce (ITC, DOC) on 18 May, 2015. In detail, it was decided that the three subsidiaries of Meihua Bio, Meihua Group International Trade (Hong Kong) Co., Ltd., Langfang Biotechnology Co., Ltd. and Xinjiang Meihua Amino Acids Co., Ltd., hadn’t sold products under normal prices in the US and there was no dumping of xanthan gum. Therefore, no anti-dumping tax should be levied on its xanthan gum exported to the US.
On 29 May, 2015, the China Crop Protection Industry Association (CCPIA) held a meeting discussing the effect of tax rebate for pesticide technical and formulations on pesticide enterprises’ enthusiasm to extend to the industry chain of formulations. Attending experts suggest that future policies should be more favorable for the export of pesticide formulations which have less influence on the environment and higher added value.
On 27 May, 2015, Anhui Huilong Agricultural Means of Production Co., Ltd. (Anhui Huilong) announced jointly with Anhui Supply-Consumer Commercial Corporation (AHSCCC), Hefei Institute of Physical Science, Chinese Academy of Sciences and CAS (Hefei) Institute of Technology Innovation Co., Ltd. to invest USD4.9 million into establishing Anhui Huilong E-commerce Co., Ltd. Of this, Anhui Huilong intends to make an investment of USD2.9 million and to hold 60% of shares.
On 20 May, 2015, Nanning Sugar Industry Co., Ltd. (Nanning Sugar) successfully released around 37.4 million shares with the price of USD2.2/share, raising a total development fund of USD82.9 million. This was the sixth financing of the company since its listing in May 1999, which made its total raised fund reach USD310.6 million.
On 13 May, 2015, the trial production of the 500,000t/a starch sugar project of Shuangqiao (Xiamen) Co., Ltd. (Shuangqiao Xiamen) was proved successful and it can mass produce by the end of May.
On 28 May, 2015, Sichuan Hebang Corporation Limited (Sichuan Hebang) announced that it had reached an agreement with a foreign company and had signed the Agreement Framework on the Investment Activity in a Foreign Company. However, Sichuan Hebang has committed itself not to disclose the name of the foreign company.
According to statistics of the Institute for the Control of Agrochemicals, Ministry of Agriculture (ICAMA), altogether 36 pesticide technical (including TK) were approved for the registration, not including renewable registrations in May 2015.
On 28 May, 2015, Jiangsu Huifeng Agrochemical Co., Ltd. (Jiangsu Huifeng) announced to issue convertible bonds valued at =<USD196.1 million to: