Core Viewpoint - The launch of the "Insurance + Futures" project for apples in Jixian County, Shanxi Province, signifies a deep integration of financial tools with the local agricultural industry, aiming to enhance the high-quality development of the apple sector and support rural revitalization [1] Group 1: Policy Support and Financial Mechanism - Shanxi Province prioritizes the establishment of a risk protection system for specialty agricultural products as a key strategy for rural revitalization, with a focus on transitioning agricultural insurance from "cost protection" to "price protection" and "income protection" [2] - The provincial government provides premium subsidies for eligible projects, requiring local fiscal support to create a funding model that combines provincial guidance with local implementation [2] - The financial support aims to leverage market mechanisms to attract more financial resources, ensuring farmers have reliable safety nets against market fluctuations [2] Group 2: Insurance Product Design and Implementation - Pacific Insurance has developed a targeted insurance plan based on the growth cycle of Jixian apples and market trends, linking compensation to the average closing price of apple futures during the harvest season [3] - The insurance plan includes a "touch protection + excess subsidy" model, allowing farmers to choose coverage based on their needs, with 80% of the premium supported by government and market entities, significantly reducing farmers' financial burden [3] - An online insurance platform, "E Agricultural Insurance," has been established to streamline the process for farmers, enabling them to manage insurance transactions conveniently [3] Group 3: Futures Market Engagement - Galaxy Futures, in collaboration with other futures companies, plays a crucial role in connecting the futures market with local farmers, having conducted extensive field research to understand farmers' concerns [4] - The project is the only "Insurance + Futures" initiative supported by the Zhengzhou Commodity Exchange in Shanxi, expected to provide risk coverage for 46,900 tons of apples across 29,300 acres and 2,000 farmers, amounting to 385 million yuan in risk protection [4] Group 4: Training and Awareness - To ensure farmers understand the new insurance model, Galaxy Futures and Pacific Insurance have conducted multiple training sessions, using straightforward examples to explain the benefits of the "Insurance + Futures" approach [5] - The Zhengzhou Commodity Exchange emphasizes the importance of transparency and sustainability in the project, requiring accurate data reporting and risk management practices [6] Group 5: Future Outlook - The Zhengzhou Commodity Exchange aims to summarize and promote the successful experiences from the Jixian project, with a goal of replicating this model in other regions [6] - The project marks the tenth year of the "Insurance + Futures" initiative by the Zhengzhou Commodity Exchange, which has supported 250 projects and provided 810 million yuan in premiums across 16 provinces [6]