China’s farming giant Syngenta says it has no ‘nefarious’ intentions in the US

{"text":[[{"start":8.3,"text":"The head of China’s state-backed farming giant Syngenta has pushed back against US scrutiny of the company’s links to Beijing, saying the company did not have “nefarious” intentions in the US."}],[{"start":20.25,"text":"Jeff Rowe, the US chief executive of the Swiss-based company Beijing bought in 2017, said he believed it was dangerous to politicise food production, three years after Syngenta was forced to divest farmland in Arkansas due to its ties to the Chinese state. "}],[{"start":35.35,"text":"“Hopefully agriculture and food production is above the political fray,” Rowe told the FT."}],[{"start":40.5,"text":"“I know that oftentimes it isn’t, but I think it should be.”"}],[{"start":44.5,"text":"Rowe welcomed recent talks between US President Donald Trump and China’s Xi Jinping, saying “the world is a better place when the US and China are on common ground”."}],[{"start":55.05,"text":"Rowe’s comments come as Chinese-owned companies face growing scrutiny in the US, including in agriculture, where politicians have increasingly framed farmland, food systems and crop technology as matters of national security."}],[{"start":69.55,"text":"Syngenta, the agrochemicals and seeds group, was acquired by ChemChina in 2017 and is now controlled by state-owned Sinochem, but Rowe insisted actions like Arkansas ordering the company to sell farmland were an overreaction."}],[{"start":84.05,"text":"“We’re not some foreign entity that has nefarious thoughts about anybody,” Rowe said. “We’re a Swiss-based multinational full of all kinds of nationalities.”"}],[{"start":null,"text":"

"}],[{"start":93.7,"text":"He said the Arkansas decision had forced the closure of a local Syngenta research operation, hurting jobs and food security."}],[{"start":101.55,"text":"“Forcing the closure of a research facility in the middle of nowhere in Arkansas . . . to me, it’s hard to see what the logic is,” he said. “I’m not sure what we’re defending against.”"}],[{"start":111.95,"text":"Rowe argued that US farmers benefited from Syngenta’s global research network and warned that fragmenting international agricultural innovation systems would have consequences for food production."}],[{"start":123.3,"text":"“There’s no question that any kind of change to that global innovation model would have big repercussions,” he said, adding that US farmers would “certainly” suffer if Syngenta’s North American business was carved out."}],[{"start":136.55,"text":"Syngenta reported a 2 per cent rise in first-quarter sales to $6.4bn in April, helped by strong growth in China and efficiency gains, while earnings before interest, tax, depreciation and amortisation rose 5 per cent to $1.4bn."}],[{"start":153.20000000000002,"text":"Rowe said the company’s recent momentum had not been driven by China alone, describing performance as strong “in all parts of the world” despite a difficult environment for farmers."}],[{"start":163.50000000000003,"text":"Rowe warned that turmoil in the Middle East was adding to pressures on farmers as the effective closure of the Strait of Hormuz drives up both fertiliser and fuel costs."}],[{"start":174.30000000000004,"text":"Syngenta has been exploring options for a future public listing after shelving earlier plans for an offering in Shanghai. The FT reported in February that the company had asked banks to submit proposals to advise on a potential Hong Kong listing that could raise as much as $10bn. "}],[{"start":192.35000000000005,"text":"Rowe said his focus was on making the company “IPO-able”, while insisting no decision had been taken on timing or venue."}],[{"start":199.65000000000006,"text":"“It could be any market, could be anywhere,” he said."}],[{"start":211.40000000000006,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1779965864_1192.mp3"}