Food security is a national priority. Ensuring stable farmland areas, maintaining yield levels, and stabilizing farmers’ expectations are fundamental to rural revitalization. These measures reinforce the resilience and vitality of agricultural production amidst climate fluctuations and market volatility.
Focusing on the new round of the billion-jin grain capacity enhancement initiative, China Life P&C Insurance prioritizes food security by leveraging insurance to mitigate agricultural uncertainties. In the first half of 2025, it launched 31 full-cost insurance products and 11 income insurance products for major grains across 20 provinces. Additionally, it covered 70.86 million mu of major grain crops in 29 provinces, providing RMB 68.5 billion in risk protection to 5.2 million households. This directly stabilized farmers’ income expectations and solidified the foundation for national food security.
While ensuring stability, China Life P&C also advances innovation. By promoting integrated corn-soybean strip intercropping insurance pilots and expanding high-standard farmland insurance services, it supports both agricultural technology advancements and disaster reduction efforts. For example, in the first half of 2025, it implemented 77 high-standard farmland projects across 11 provinces, covering 1.2 million mu with RMB 2.5 billion in risk protection. This includes critical components such as irrigation systems, field roads, and soil improvement, integrating them into routine farmland management.
China Life P&C’s approach demonstrates a shift from post-event compensation to comprehensive empowerment throughout the agricultural cycle. Full-cost insurance covers input costs, income insurance mitigates market fluctuations, technological insurance supports advanced farming techniques, and high-standard farmland insurance incorporates engineering-based disaster reduction measures. Together, these strategies enhance the certainty of farming and extend food security from seasonal abundance to long-term stability.
Expanding Support for Specialty Agricultural Products
In addition to securing food safety, China Life P&C extends its insurance coverage to support the diverse aspects of rural industrial revitalization.As a significant dairy-producing region, Hohhot City leads in milk cow breeding, milk production, per capita milk consumption, and processing capacity. In Togtoh County, part of Hohhot, the dairy industry has seen robust growth. In the first half of 2025, China Life P&C Inner Mongolia Branch upgraded fresh milk protection from price insurance to income insurance, incorporating price volatility into the coverage framework. This model enhances the risk resistance and cash flow stability of breeding entities while leveraging insurance policies to secure bank credit and fiscal support. It creates a replicable and scalable model that accelerates local dairy industry development.
Following the requirements outlined in the Central Document No. 1, which advocates for supporting specialized agricultural product insurance, China Life P&C continues to expand its specialized agricultural portfolio. Tailoring insurance products to local conditions and specific crops, it offers 1,711 local policy-oriented products currently on sale, with 118 newly registered specialty agricultural insurance products. These products cover 1.8 million households in 33 provinces, providing RMB 122.2 billion in risk protection.
Driving Green Innovation Through Carbon Sink Insurance
Moreover, China Life P&C integrates green and low-carbon principles into product innovation. By converting ecological values into measurable, tradable, and insurable financial assets, it develops weather index and carbon sink insurance for forests, grasslands, forest understory crops, and green fodder.
- In the first half of 2025, it introduced 59 carbon sink insurance products
- These products were launched in nine provinces including Fujian and Anhui
- They provided over RMB 100 million in risk protection
- The initiatives support carbon neutrality and ecological industrialization
These efforts provide viable financial pathways toward achieving carbon neutrality and advancing sustainable rural development.
Related topics:
