(Yicai Global) Sept. 3 -- China should strive for self-sufficiency in pig breeding just like it needs to make its own semiconductors, according to the chairman of Chinese agricultural giant New Hope Group.

Just like any other industry, better pig rearing requires more capital and high-tech application, Liu Yonghao said at the State Council Information Office's press conference yesterday. The Chengdu-based firm has set up a dedicated pig breeding unit and runs a bioengineering research institute for the same purpose, Liu added.

Chinese pork prices have soared this year after the African swine fever epidemic caused massive inventory cuts last year. That has resulted in surging net profits for farmers.

The sector is recovering from the impacts of the African swine fever outbreaks via technological development, reorganization, and large capital investment, said Liu. By mid-2021, pork prices should return to normal levels, he added.

Meanwhile, pork producers should boost high-tech investment involving the Internet of Things and fifth-generation wireless networks to control ventilation, temperature, feeding, monitoring, cleaning, and environmental protection practices, according to Liu.

"To this end, we've set up a research institute that specializes in digital pig farming, using tens of thousands of high-definition cameras, sensors, and IoT systems to manage and control it via cloud computing," the chairman said, adding that this kind of automation should reduce labor, emissions, land and water use, as well as the rate of wasted inventory by as much as 90 percent.

The firm's meat production unit New Hope Liuhe's net profit more than doubled to CNY3.2 billion (USD462.7 million) in the first half from a year ago, according to its earnings report. Its revenue climbed 27 percent to CNY44.7 billion (USD6.5 billion).

Editor: Emmi Laine