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Cao said Exeed will release a compact SUV in October and launch a full-sized one by the end of this year.

Cao Weijing, a partner at PwC, suggested companies should allocate more resources to product innovation and business expansion via differentiated products. Chinese snack companies that have only half of the product development ratio-R&D funding versus sales revenue－have relatively lower margins, compared to their global peers, she said.

Cao Zhongming, the newly appointed Chinese ambassador to Belgium, said in an exclusive interview with Xinhua that this latest agreement is a sign of growing cooperation between Belgium and China, but hinted that more can be done to expand cooperation.

Cargill Inc, another major grain handler, and US farmers also sued Syngenta. Last year, Syngenta agreed to settle farmers' lawsuits for close to .5 billion.

Cecilia Tan