The first domestic agricultural product futures price insurance was signed in Dalian.

Recently, the signing ceremony of China's first agricultural futures price insurance was held in Dalian Commodity Exchange, Liaoning Province. PICC Dalian Branch signed corn and egg futures price insurance contracts with agricultural cooperatives in Yixian County, Jinzhou City, Liaoning Province and egg farmers in Dalian, respectively, covering 1000 tons of corn and 300 tons of eggs for the first time. This is the first order of futures price insurance for agricultural products in China.

At present, China is speeding up the reform of the price mechanism of agricultural products, exploring the decoupling of the price formation mechanism of agricultural products from government subsidies, and changing the grain price determination mechanism of the government's minimum purchase price and temporary collection and storage price. Through the insurance product innovation of "insurance + futures", the original way of price risk transfer of agricultural products and the way of state subsidy for agricultural products can be changed. In addition, agricultural product futures price insurance is also a technological upgrade of traditional price insurance products, which can make up for the mechanism defect that traditional price insurance can not transfer risk by using futures market to undertake and transfer agricultural product price risk. price insurance can be quickly extended to a variety of agricultural products and agricultural and sideline products to achieve large-scale risk dispersion.

In March this year, Dalian Insurance Regulatory Bureau put forward the idea of promoting agricultural product futures price insurance, and jointly launched the "Research on the Theory and practice of Agricultural Product Futures Price Insurance" with the property Insurance Supervision Department of China Insurance Regulatory Commission and the people's property Insurance Co., Ltd. PICC property Insurance Corporation sent experts based in Dalian, from the early market research to the product pilot landing, the whole process of less than 4 months, and finally completed the product listing before the corn harvest. Cai Xingxu, secretary of the party committee and director of the Dalian Insurance Regulatory Bureau, said that the research and exploration on agricultural futures price insurance stems from the in-depth thinking of implementing the strategic deployment of the "two first zones" planned by the Dalian municipal party committee and the municipal government and the overall arrangement of New year's activities. By promoting the deep integration and innovation of the insurance industry and the futures industry, financial efforts will be made to promote the real economy, and strive to build Dalian into a national agricultural and fishing insurance innovation demonstration zone.

In addition, PICC signed a strategic cooperation agreement with Dalian Commodity Exchange, and PICC Dalian Branch signed a cooperation agreement with Xinhu Futures Company. Lin Zhiyong, vice president of China people's property Insurance Co., Ltd., said that PICC property insurance will take advantage of the experience accumulated in agricultural insurance for many years and give full play to the advantages of underwriting, claims settlement, fund use and compensation. Effectively integrate sales outlets and futures market resources, provide farmers with stylized and easy-to-understand futures price insurance products, through the integration and innovation of a variety of financial instruments in the insurance field Realize the leap from insurance cost to insurance income of insurance products. Feng Bo, general manager of the Dalian Commodity Exchange, also said that close cooperation between futures and insurance will help the broad masses of farmers effectively deal with the risk of market price fluctuations, and the next step will continue to support and promote the futures industry and the insurance industry to explore and establish a sustainable replication model of agricultural product futures price insurance, so as to ensure the smooth implementation of China's agricultural product price strategy.