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Embattled HNA Group is more than a year into the process of unwinding a $50 billion acquisition spree that at its peak netted the company stakes in banks, fund managers, hotels, property and airlines, among other assets. But faced with soaring debt and government scrutiny of aggressive dealmaking, HNA has pushed ahead with asset sales that have included real estate and stakes in hotels groups, and discussions on key overseas units such as Ingram Micro and its luxury $300 million-plus corporate “Dream Jet” wholesale cufflinks.

CHICAGO (Reuters) – China’s approval of imports of a DowDuPont Inc (DWDP.N) genetically modified soybean puts rival Bayer AG (BAYGn.DE) on the defensive, investors and analysts said, as U.S. farmers will have a new choice when planting their most valuable agricultural export wholesale cufflinks. Bayer-owned Monsanto has long dominated the $40 billion U.S. soybean market. The market has opened up, though, as Monsanto’s Roundup Ready line of seeds – engineered to tolerate the weed killer glyphosate – has lost effectiveness as weeds develop tolerance to the chemical..

China cleared the way for U.S. farmers to eventually plant DowDuPont’s Enlist E3 soybeans, which can resist three herbicides, by approving imports of the crop on Tuesday. For years, the company had postponed launching the seeds while waiting for the nod from Beijing. China bought about 60 percent of U.S. soy exports, worth about $12 billion, prior to the ongoing U.S.-China trade war and could reject shipments of unapproved varieties. Farmers have struggled since China imposed a tariff on imports of U.S. soy in July as part of the trade war, in which the world’s two biggest economies have slapped billions of dollars of retaliatory duties on each other’s products wholesale cufflinks.

Michael Underhill, chief investment officer of Capital Innovations, which owns shares of DowDuPont, said China’s approval of Enlist E3 soy will eventually lead to big orders for the company wholesale cufflinks. “When I think about how big of a deal this is, I think about the Led Zeppelin song ‘When the Levee Breaks,’” Underhill said. “Competition is going to get fierce. It forces everyone to get sharp and up their game.”. Enlist E3 soybeans are bred to resist the herbicides glyphosate, glufosinate and 2,4-D..

The seeds will challenge Roundup Ready 2 Xtend soybeans developed by Monsanto, which can resist glyphosate and a newer version of a chemical called dicamba. Corteva Agriscience, the agriculture unit of DowDuPont, said it was happy the regulatory approval of its seed traits was progressing in China. A spokesman did not respond to requests for more information. Bayer spokesman Darren Wallis said in an e-mailed statement that Roundup Ready 2 Xtend soybeans were the number one trait platform in the market wholesale cufflinks. The company complained of China’s slow regulatory approvals process in an earlier statement..