Monsanto Co. (MON) is setting up a genomic research center in China, the company's executive vice president, Gerald Steiner, said Tuesday.

"We're doing it right now," Steiner told Dow Jones Newswires.

The Chinese government has announced very significant investments in biotechnology research in the country's universities and institutes, so they aren't against genetically modified crops, he said.

-By Helen Sun, Dow Jones Newswires; (65) 6415-4086; helen.sun@dowjones.com