在2025期货服务乡村振兴暨"保险+期货"会议圆桌讨论环节，来自期货交易所、地方政府、行业协会及产业龙头企业的代表们，围绕"保险+期货"模式过去10 年的成就、当前面临的挑战与未来的升级路径，展开了一场深入而务实的对话。其中，如何实现财政资金高效协同、优化补贴机制以支持模式规模化、可持 续发展，以及如何应对市场波动带来的挑战，成为与会嘉宾探讨的两大焦点。 郑商所相关负责人首先回顾了"保险+期货"10年来发展的主要成果。他表示，变化至少有三个方面：一是农户从对期货"看不懂、进不来"转变为开始关注并 利用期货价格管理风险；二是地方政府支持力度增大，郑商所的项目中已有8个省的省级财政直接发文支持项目申报，外部资金（主要为财政资金）占比已 超过70%；三是保险与期货行业加强合作，催生了"保险+期货+订单+龙头企业"等创新模式，探索了小农户连接大市场的新路径。 中国大豆产业协会副会长、黑龙江省大豆协会会长唐启军进一步补充说，项目覆盖已从初期个位数扩展至全国几十个省份，创新从单一价格险演进至收入险 及多元化的"保险+期货+N"模式，多个项目获得联合国减贫案例等国际认可，社会影响力显著提升。 首先是成本与可持续性挑战。唐启 ...

12月9日，为深化期货市场服务实体经济功能，提升企业风险管理水平，助力市县经济高质量发展，由 黄冈市人民政府、大连商品交易所、湖北证监局联合主办，湖北省证券期货业协会协办的期货服务市县 经济高质量发展培训在黄冈成功举办。来自黄冈市、区、县农业农村局、黄冈产业企业代表、保险及证 券期货机构代表等共计80余人现场参会。 活动期间，大连商品交易所专家、长江期货副总裁以及湖北家美鲜电子商务有限公司董事长分别围绕期 货市场发展、期货工具运用等主题展开授课。 专家们系统梳理了我国期货市场发展历程，深入阐释了 期货服务实体经济的路径与机制，并通过典型案例剖析，生动展示了"保险+期货"模式在服务"三农"发 展中的创新实践。同时，结合黄冈产业特点，对当地产业发展现状进行了深度剖析，分享了企业套期保 值策略与成功案例，为参会企业提供了运用衍生品工具管理风险、提升经营效益的实践指导，助力市县 经济高质量发展。 据悉，近年来，在证监会的坚强领导下，在各方的大力支持下，湖北证监局多措并举，持续推动期货市 场服务省内实体经济高质量发展。目前，湖北构建了坚实的期货服务基础，拥有2家期货公司、76家分 支机构、43个期货交割库，赋能产业发展 ...

Core Viewpoint - The "insurance + futures" model introduced by the Dalian Commodity Exchange (DCE) has effectively supported rural revitalization and agricultural sustainability in Huachuan County, Heilongjiang Province, by providing a robust risk management framework for local farmers [1][8]. Group 1: Implementation and Development - Since its launch in 2015, the "insurance + futures" model has evolved from basic price insurance to include spot purchase agreements and income guarantees, significantly enhancing income stability for farmers [1][3]. - The model was initially piloted with 10,000 tons of soybean price insurance in 2016, which expanded in 2017 to include corn and soybean price insurance along with spot purchase agreements, resulting in a total compensation of 2.51 million yuan for insured crops [3][4]. - By 2018, the project had expanded to cover 400,000 acres and provided solid guarantees for 5,666 households, with average annual income for corn farmers reaching 4,500 yuan, surpassing the poverty line [4][8]. Group 2: Risk Management and Financial Support - The introduction of income insurance in 2019 allowed for simultaneous coverage of both price and yield fluctuations, significantly enhancing the resilience of the "Huachuan model" during adverse weather conditions [5][6]. - In 2019, the total compensation reached over 87 million yuan, with a compensation rate of 376%, effectively preventing many farmers from falling back into poverty [6][8]. - The model not only provides immediate financial support but also stabilizes land rental prices, encouraging larger-scale farming operations and cooperative management among farmers [6][7]. Group 3: Long-term Impact and Future Prospects - The "insurance + futures" model has fostered a long-term risk management mindset among farmers, ensuring a stable production environment and enhancing agricultural sustainability [7][8]. - Over nine years, Huachuan County has implemented 14 projects covering corn, soybeans, and pigs, with total premiums reaching 187.75 million yuan and insuring over 2.05 million acres [8]. - The ongoing exploration of new models, including collaborations with banks and further innovations in insurance products, indicates a commitment to continuous improvement in agricultural risk management [8].

Core Insights - The "Insurance + Futures" project for apples in Yanlong County, Shaanxi Province, is initiated by Guotai Junan Futures, with support from local governments and various financial institutions, aiming to enhance the apple industry’s quality and risk management [1][2] Group 1: Project Overview - The project is expected to cover an apple planting area of 33,000 acres, with an insured quantity of 41,200 tons and a total premium scale of 15.38 million yuan, providing multi-layered price risk protection for local farmers [1] - A strategic cooperation agreement was signed between Yanlong County government and six participating futures companies to enhance the branding and market influence of Yanlong apples [1] Group 2: Future Plans - Guotai Junan Futures plans to strengthen the risk management core of the "Insurance + Futures" model, focusing on price risk hedging and integrating it with the regional branding of "Yanlong Apples" [2] - The company aims to provide customized risk management solutions for industry chain enterprises, encouraging participation in futures delivery and expanding sales channels to enhance market competitiveness and brand value of Yanlong apples [2]

Core Viewpoint - The introduction of comprehensive cost insurance by China Life Property & Casualty Insurance in Tibet significantly enhances the risk management capabilities of local farmers, allowing them to better cope with natural disasters and market fluctuations [1][2]. Group 1: Insurance Product Development - China Life Property & Casualty Insurance has launched comprehensive cost insurance in Tibet, expanding coverage to include land costs and labor expenses, which were previously excluded [1]. - The insurance coverage for key crops has increased significantly, with barley and rice coverage rising from 380 yuan per mu to 800 yuan per mu, wheat from 350 yuan to 750 yuan, and corn from 380 yuan to 900 yuan [2]. Group 2: Financial Support and Affordability - The financial burden on farmers has been alleviated through a multi-tiered subsidy mechanism, where the local government covers 80% of the insurance premium, leaving farmers with minimal out-of-pocket costs [2]. - For example, a farmer with 20 mu of barley only pays approximately 26 yuan in premiums, while the maximum compensation can increase from 7,600 yuan to 16,000 yuan in case of severe crop failure [2]. Group 3: Impact on Agricultural Practices - The implementation of comprehensive cost insurance is transforming agricultural practices in Tibet, encouraging farmers to expand planting areas, adopt high-quality varieties, and increase agricultural investments [2]. - Modern agricultural techniques such as mechanized sowing and scientific fertilization are becoming more prevalent, alongside the emergence of new business models like cooperatives and family farms [2]. Group 4: Future Plans - China Life Property & Casualty Insurance plans to expand the coverage area of comprehensive cost insurance and explore the "insurance + futures" model to further support farmers and enhance the modern agricultural system in Tibet [3].

Core Viewpoint - The "insurance + futures" model serves as an innovative approach in China's insurance market, leveraging the price discovery and hedging functions of the futures market to provide pricing references and risk transfer channels for agricultural products, thereby supporting rural revitalization and the development of a strong agricultural nation [1][2]. Summary by Sections 1. Overview of the "Insurance + Futures" Model - The model has positively impacted farmers' income protection, stable supply and pricing of primary agricultural products, and high-quality development of rural industries, covering 18 agricultural products and reaching 5.39 million households across 1,224 counties in 31 provinces [1][2]. 2. Innovations of the Model - It provides an effective way to disperse agricultural price risks, offering two main product types: "price insurance + futures" and "income insurance + futures," which address price risk that traditional agricultural insurance does not cover [2]. - The model facilitates small farmers' access to the futures market, enhancing market activity and promoting the development of China's futures market [2]. 3. Challenges Facing the Model - There are significant issues in the operational mechanisms and management systems of the "insurance + futures" model, despite its expansion and diversification in agricultural products [3]. 4. Discrepancies in Nature and Positioning - There are differing views on whether the model is primarily an insurance product or a futures product, with implications for risk-bearing and revenue generation [4]. 5. Lack of Stable Premium Sharing Mechanism - The model lacks a stable premium-sharing mechanism, as it is not included in the central government's agricultural insurance premium subsidy policies, leading to variability in project sustainability [5]. 6. Differences in Participation Enthusiasm - Insurance companies are less enthusiastic about participating in the model due to limited revenue from "price insurance + futures" projects and higher risks associated with "income insurance + futures" projects [6]. 7. Multi-Agency Regulatory Challenges - The model faces regulatory challenges due to overlapping supervisory roles from different financial regulatory bodies, complicating its classification and treatment under existing regulations [7]. 8. Pricing and Operational Irregularities - There are issues with pricing transparency and operational norms, leading to potential exploitation and inefficiencies in the model [8]. 9. Recommendations for Optimizing the Model - The core goal is to enhance collaboration between insurance and futures markets to improve agricultural price risk management [9]. 10. Allowing Insurance Companies to Participate in Futures Trading - A proposed reform is to allow insurance companies to engage in agricultural futures trading, which could streamline operations and enhance risk management capabilities [10]. 11. Characteristics of the Proposed "Insurance-Futures" Model - The new model would allow insurance companies to directly participate in futures trading, expanding their operational scope while maintaining a focus on risk hedging [11]. 12. Feasibility of Participation - Insurance companies have accumulated experience in managing financial derivatives, providing a solid foundation for their participation in agricultural futures trading [13]. 13. Benefits of Allowing Participation - This change could better meet farmers' risk protection needs, establish a premium subsidy system, enhance pricing mechanisms, and regulate market behaviors [14][15][16]. 14. Necessary Supporting Reforms - Key reforms include establishing detailed regulations for insurance funds in futures trading, revising accounting rules for agricultural insurance, and enhancing external regulatory frameworks [17][18].