Mr Chen said that scientifically the use of such genetically modified crops was no problem. The government encourages research and development in this field. This is a significant technology but it is hard to market. There will be a very big opportunity in the future. It is sad when the developed world has advanced technologies but the developing countries cannot use them.
China does allow the use of modified cotton and tomato plants.
The university had seven listed companies, three in Hong Kong and four in the mainland, he said. Among the seven was Founder, which makes the software used to print 90 per cent of the books and newspapers in China. It was also the second-largest maker of personal computers, after Legend, Mr Chen said. The university's businesses included a company with 60 per cent of China's market for Interferon, used in the treatment of the country's 30 million sufferers of hepatitis and diabetes. The university owned a majority share in these companies but could not trade them.