Research On The Optimization Path Of "Insurance + Futures" Mode Of Agricultural Products In China

The report of the 20 th National Congress of the Communist Party of China proposed that the agricultural support insurance system should be gradually improved,so that the financial service rural system will be more sound,and as an important project of financial support for agricultural development,the business model of "insurance + futures" has been continuously piloted for many years since it was proposed in 2016.In recent years,the support and protection of "insurance + futures" agricultural products have been strengthened,the quality and effect of their guarantee have been significantly enhanced,the pilot varieties have been continuously enriched,and the coverage area has gradually expanded.In 2023,in the Central Document No.1,"insurance + futures" was mentioned for the eighth time,requiring the gradual expansion of the pilot of "insurance + futures" in major grain crops such as corn,wheat,and rice,and further expanding the scope of income insurance;Encourage the development of fisheries in "insurance + futures";Give play to the role of the multi-level capital market in supporting agriculture,and optimize the participants and subsidy methods of "insurance + futures".However,with the continuous advancement of pilot projects,the traditional agricultural "insurance + futures" model is no longer enough to meet the needs of all parties,and industry institutions continue to innovate service content and business models,from "price insurance" to "income insurance",not only to ensure price,but also to ensure income;From "income insurance" to "profit insurance",not only the sales end but also the cost side,the "insurance + futures" protection net is becoming more and more dense,the "bottom line" is firmer,and the protection is better.This article reads a large number of literature by classification and organizes the literature on this topic to understand the relevant concepts and theories of "insurance +futures",and then summarizes the pilot status of the three major exchanges according to the underwriting type and risk diversification mode of the "insurance + futures" model.Then,the landing projects of the three classic models of "price insurance + futures +order agriculture","income insurance + futures + basis acquisition" and "breeding profit insurance + futures + order agriculture" are analyzed,and the problems existing in different project models are analyzed and summarized from the three perspectives of insurance types,subsidy methods and project results,including the excessive proportion of price insurance,immature market,pilot futures varieties,and excessive dependence on government subsidies.This paper then summarizes the desirables of the "insurance +futures" model in the United States,Europe and Japan,and puts forward the desirables of the development of foreign agricultural product insurance and futures markets based on this experience.Based on the analysis of the three cases of soybeans,corn and eggs and foreign experience,this paper concludes the problems existing in China’s "insurance + futures",puts forward corresponding optimization suggestions,puts forward a new model of "six-party cooperation" under the background of the Internet,that is,the "insurance +futures + government + bank + order agriculture + Internet" model,introduces its participants,cooperation process,value-added of benefits of all parties and optimization results,and puts forward the matching policies and measures that need to be optimized in this mode.Give play to the important role of financial services in rural revitalization,and write a new chapter in the new era to help "three rural areas".