CHANGSHA, Oct. 14 -- Yuan Longping, a globally renowned agronomist known for developing the first hybrid rice strains, became president of the third-generation hybrid rice company that was unveiled Monday in the central Chinese city of Changsha.

The third-generation hybrid rice was developed by Yuan's team based on the previous technological breakthroughs of the three-line and two-line hybrid rice strains.

Yuan said the application of the third-generation hybrid rice is of great strategic significance to China's food security and will bring about great changes to global rice cultivation.

"The establishment of the company means that large-scale application of the third-generation hybrid rice is ready," said Li Xinqi, vice president of the company.