China Boosts Farmer Protection With Nationwide Insurance for Major Grains
China Finance Ministry on Tuesday announced the nationwide implementation of full-cost insurance and planting income insurance policies for rice, wheat and corn, as part of a food security drive to encourage planting of staple grains. The policy is aimed at improving the level of agricultural insurance protection, stabilizing farmers’ income, supporting the revitalization of rural areas and safeguarding food security, according to a notice released with the Agriculture Ministry and the State Administration of Financial Supervision.