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Principles and Recommendations for Developing China’s Price Insurance for Agricultural Products (No 60, 2015)
2016-01-15
By Tian Hui, Research Team on “Development of China’s price insurance for agricultural products”, Finance Research Institute of DRC
Research Report No 57, 2015 (Total NO 1460) 2015-12-28
Abstract: During the process of promoting development of China’s price insurance, in addition to observing general principles, following development principles need to be emphasized: progressive improvement, cooperation between new government and market, encouragement of innovation, and appropriate competition. In terms of specific development recommendations, we should pay attention to the following points. Firstly, stakeholders should foster correct insurance concepts, fully understand the significance and unique advantages of insurance mechanism, and are willing to utilize market mechanism to solve modern agriculture-related problems. Secondly, extend the definition of price insurance and encourage various new product pilot projects in order to shift risks among different types and products and in different areas. Thirdly, continuously improve the systems related to subsidy, catastrophe risk sharing, and collection and sharing of information and data. Fourthly, optimize and improve the actual operation, such as market entry and exit system and assessment of insurance rate. And fifthly, promote price insurance and futures market to form an effective docking.
Key words: price insurance, development principle, recommendation
