Core Viewpoint - The Shandong Provincial State-owned Assets Supervision and Administration Commission has recognized the "Insurance + Futures" innovative model for cotton price targeting as a benchmark practice in supporting rural revitalization through financial services [1][2]. Group 1: Background and Context - The cotton planting area and yield in Shandong have been declining due to multiple factors, including falling cotton prices, differences in subsidy policies, and higher returns from alternative crops [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 of its kind to be promoted at the provincial level [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 physical cotton scale of 51,000 tons [2]. - The government has provided a special premium subsidy of 70.11 million yuan, offering price risk protection amounting to 780 million yuan for cotton farmers in the province [2]. - The project has successfully compensated over 73 million yuan due to significant cotton price declines influenced by supply-demand imbalances, international trade tensions, and financial market volatility, effectively mitigating farmers' operational risks and stabilizing their income [2]. Group 3: Recognition and Future Plans - The "Insurance + Futures" model has been recognized as one of the first innovative products in financial support for agriculture in Shandong, contributing to the company's reputation in the sector [2]. - The company plans to continue innovating the "Insurance + Futures" model, aiming to expand the range of covered products, enhance protection amounts, and establish a long-term mechanism involving farmer participation, government subsidies, insurance protection, and futures hedging [2].
中泰期货“保险+期货”创新模式获评省级典型案例