Latest News from the Chinese Seed Industry 14/01
DUBLIN, Feb. 20, 2014 /PRNewswire/ –
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Recently the State Council of the People’s Republic of China (the State Council) recently released the No. 1 Central Document for 2014 titled “”Several Opinions Comprehensively on Deepening Rural Reform and Accelerating Agricultural Modernization”", which clearly pointed out that more efforts shall be made to underpin domestic agricultural insurance.
Actually, it is not the first time that “”agricultural insurance”" has been mentioned in China’s No. 1 Central Document every year. With the increasing financial subsidies from the government, China’s agricultural insurance has witnessed rapid development in recent years, thus enable China to become the world’s second-largest agricultural insurance market only after the U.S. since 2012.
According to the China Insurance Regulatory Commission (CIRC), China’s crop acreage covered by agricultural insurance already hit 66.67 million ha. (1 billion mu) in 2013, occupying 42% of the total crop acreage. Besides, total premium income reached USD5.03 billion (RMB30.66 billion) in 2013, increasing by 27% year on year; the payment of claims hit USD3.42 billion (RMB20.86 billion), increasing by 41% year on year.
Considering the national food security strategy, the Chinese government is going to continually improve the risk protection level on three major crops namely corn, rice and wheat.
Key Topics Covered:
Key events in China’s seed industry in 2013, part 1
State Council announces reforms to stimulate seed industry
Five changes in the Examination and Approval Measures for Main Crop
Origin reports profit growth in FY2013
Heilongjiang tomato seed market improving
Oversupply of hybrid rice seeds to continue in 2014
Terminal sales: new marketing trend for corn seeds
Beijing Shenzhou: space mutation breeding to boost agricultural development
Heilongjiang soybean market still depressed in 2013
Autumn planting of rapeseed in Anhui in 2013/2014
-- Beijing Shenzhou -- Origin
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SOURCE Research and Markets