Economic Impacts of Commercialization of Genetically Modified Crops in China

Abstract

Since the commercial planting of genetically modified crops (GM crops) began in 1996, the planting area has increased year by year, and the economic and social benefits produced by the commercial planting have become increasingly significant. In this paper, the global and domestic commercialized cultivation of GM crops (mainly GM cotton, soybean, and corn) were summarized, and the prospect of commercialized development of genetically modified crops was briefly analyzed. Based on current experiments and estimation, GM cotton, soybean, and corn can all provide positive economic benefits to farmers by taking advantage of cost savings and yield increases.