In recent years, the scale of China's agricultural insurance premium has increased rapidly, benefiting farmers and playing a continuous role. China's Ministry of Finance recently revised and promulgated the measures for the administration of agricultural insurance premium subsidies of the central government (hereinafter referred to as the measures) to optimize the proportion system of bulk Shenzhen Agricultural Products Group Co.Ltd(000061) premium subsidies and the policy of Shenzhen Agricultural Products Group Co.Ltd(000061) insurance awards and subsidies with local characteristics.
In recent years, after sudden natural disasters such as African swine fever, the "cold dew wind" in the south, the torrential rain in Henan and the typhoon "fireworks" in Jiangsu, Zhejiang and Shanghai, Chinese insured farmers have been paid in time, and the post disaster loss compensation role of agricultural insurance has been reflected. In 2021, the central government allocated 33.345 billion yuan of premium subsidies (RMB, the same below), an increase of 16.8% over the previous year, driving the national agricultural insurance to achieve 96.518 billion yuan of premium income and providing 4.78 trillion yuan of risk protection for agricultural production.
The relevant person in charge of the Ministry of Finance stressed on the 14th that China is a large traditional agricultural country. With the overall support of the state, improving the resistance to natural disaster risks, ensuring the income of farmers and improving the enthusiasm of agricultural production are the internal needs for the development of modern agriculture.
According to the person in charge, the measures basically maintain the stable proportion of premium subsidies and improve the central government's support for planting insurance in the central, Western and northeast regions. For the premium of seed production insurance of rice, wheat, corn, cotton, potato, oil crops, sugar crops, natural rubber and three major grain crops (rice, wheat and corn), on the basis of the average subsidy proportion of provincial finance not less than 25%, the central government subsidizes 45% to the central and western regions and northeast regions and 35% to the eastern region.
At the same time, maintain a stable proportion of insurance premium subsidies for local aquaculture, forests and specific varieties related to Tibet. On the basis that the average proportion of provincial financial subsidies is not less than 25%, the central government subsidizes 50% to the central and western regions and 40% to the eastern regions for the insurance premiums of breeding sows, fattening pigs and dairy cows; For the premium of forest insurance, the central government subsidizes 50% for public welfare forests and 30% for commercial forests; The central government subsidizes 40% of the insurance premiums of Tibetan specific varieties of highland barley, yak and Tibetan sheep.
In recent years, local advantageous and characteristic industries have developed rapidly, such as Guangdong litchi, Hunan citrus, Hubei crayfish, Ningxia medlar, Inner Mongolia beef cattle, Shaanxi apple, Tibet Tibetan chicken and other local characteristic Shenzhen Agricultural Products Group Co.Ltd(000061) insurance has won the support of the central financial reward and subsidy policy. The person in charge said that the reward and subsidy policy will be expanded to be implemented nationwide, and the reward and subsidy will be granted to all localities.
