China's agriculture attracts Bayer and BASF

Most of China's farms are still too backward and unproductive. Although the proportion of cooperatives and larger farms has increased in recent years, according to figures from the Chinese Ministry of Agriculture, 98 percent of farms are still small farms. They farm 70 percent of arable land nationwide.
China's government wants to change that. The current five-year plan explicitly mentions that the establishment of larger farms and industrial plants should be promoted. A technological boost is urgently needed so that the country can make better use of its limited agricultural area. China wants to modernize production methods and use more IT in agriculture.
This is good news for agricultural equipment suppliers, especially for the leading developers of modern seeds and pesticides. Experts also see great opportunities in the country for the German suppliers Bayer and BASF. "Asia and especially China will be the next big growth market for agricultural chemistry," expects chemical expert Markus Mayer from Baader Bank
Source: Handelsblatt inside

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