A total of 200 major grain-producing Chinese counties will pilot agricultural disaster insurance this year and next year to improve their ability to counter natural disasters, according to the Ministry of Finance…Full Article: ECNS.cn May 2017 Key Point According to the Ministry of Finance, the pilot agricultural disaster insurance program will primarily cover rice, wheat,
As a traditional Chinese saying goes, “Farmers mainly depend on heaven or the weather for food.” Areas hit by severe disasters can see their whole year of hard work swept away. To combat the winds of fate, the upcoming policy to establish an agricultural insurance system in piloting regions will soon help farmers to tackle
China’s agricultural insurance pocketed 32.57 billion yuan (5.29 billion U.S. dollars) in 2014, an increase of 6.2 percent year on year, according to the China Insurance Regulatory Commission on Wednesday [4 March 2015]. The number of insured farms reached 247 million, up 15.71 percent year on year, according to a statement on the commission’s website.
China will carry out its first regulation on agricultural insurance starting Friday, with the sector’s big potential attracting insurance companies. As more favorable policies for the sector have been carried out, the number of agricultural insurance service providers in China has increased to more than 20 companies at present from six in the past. China’s
China’s fledgling agricultural insurance sector has buffered farmers against greater losses after hail, pest outbreaks and a massive typhoon hit China’s breadbasket, the northeastern provinces of Heilongjiang and Jilin, a local official said Thursday. “Agricultural insurance has proven instrumental in transferring risks and stabilizing farmers’ income,” said Liu Feng, director of the Heilongjiang Provincial Insurance