Core Viewpoint - The "Insurance + Futures" innovative model for cotton price targeting has been recognized as a benchmark practice in supporting rural revitalization in Shandong Province, showcasing the financial industry's role in empowering agriculture and rural development [1][2]. Group 1: Background and Context - The cotton planting area and production in Shandong have been declining due to multiple factors, including falling cotton prices, differences in subsidy policies, and higher returns from alternative crops, posing significant challenges for cotton farmers [1]. - The "Insurance + Futures" pilot project was initiated in 2019 with support from the Shandong Provincial Department of Agriculture and Rural Affairs and the Provincial Department of Finance, making it the first innovative practice of its kind to be promoted at the provincial level in China [1]. Group 2: Project Implementation and Impact - As of 2024, the pilot project covers major cotton-producing areas such as Dongying and Jining, insuring a cotton planting area of 637,300 acres, benefiting approximately 150,000 cotton farmers, equivalent to a cash cotton scale of 51,000 tons [2]. - The government provided a special premium subsidy of 70.11 million yuan, offering price risk protection amounting to 780 million yuan for cotton farmers across the province [2]. - The project effectively mitigated the operational risks faced by farmers, resulting in over 73 million yuan in compensation due to significant price declines caused by supply-demand imbalances, international trade tensions, and market volatility [2]. Group 3: Future Outlook - As one of the first futures companies to implement the "Insurance + Futures" model, the company has received recognition for its innovative financial products and aims to deepen this model, expand coverage, and enhance protection amounts [2]. - The company is committed to building a long-term mechanism involving farmer participation, government subsidies, insurance protection, and futures hedging to contribute to high-quality agricultural development and rural revitalization in Shandong [2].
中泰期货“保险+期货”创新模式获评省属企业助力乡村全面振兴典型案例