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China sets 2030 targets for agricultural insurance: depth at 1.9%, tech spending intensity at 1%
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On September 16, Jin10 Data reported that China's Ministry of Finance, along with other ministries, issued the Implementation Plan on Accelerating High-Quality Development of Agricultural Insurance. A relevant official from the Ministry of Finance answered questions on the plan. The plan sets development goals for 2030, aiming to establish a multi-tiered agricultural insurance system that is internationally advanced. Specific targets include an 'agricultural insurance depth' (premiums relative to primary industry added value) of 1.9% by 2030, and an 'intensity of technological investment in agricultural insurance' (tech innovation investments relative to premiums) of 1% by 2030. The plan defines tech innovation investments as including expenditures on technical personnel, technology service fees, and related intangible and fixed assets. The overall goal is a win-win scenario with efficient subsidies, secured industries, tangible farmer benefits, and sustainable institutional operations.
Source report
Jin10 Data, September 16 — The Ministry of Finance, jointly with the Ministry of Agriculture and Rural Affairs, the National Financial Regulatory Administration, and the National Forestry and Grassland Administration, has recently issued the Implementation Plan on Accelerating High-Quality Development of Agricultural Insurance (Cai Jin [2026] No. 88).
A relevant official from the Ministry of Finance recently answered reporters' questions regarding the Implementation Plan.
Development Goals for the Next Phase
The plan sets out the following development goals for the period leading up to 2030:
- A multi-tiered agricultural insurance system will be basically established, which:
- Aligns with farmers' risk protection needs
- Adapts to modern agricultural development
- Features clear division of responsibilities between central and local governments
- The system will reach an internationally advanced level overall
- A win-win scenario will be achieved, characterized by:
- Efficient subsidies
- Secured industries
- Tangible benefits for farmers
- Sustainable operations for institutions
Specific Development Targets
Building on this foundation, the Implementation Plan further specifies the following development targets:
- Agricultural insurance depth — defined as the ratio of agricultural insurance premiums to the added value of the primary industry, reflecting agriculture's contribution to rural economic development. Target: 1.9% by 2030.
- Agricultural insurance density — (specific target not detailed in the original text)
- Intensity of technological investment in agricultural insurance — defined as the ratio of scientific and technological innovation investments by agricultural insurance institutions to agricultural insurance premiums, reflecting the level of tech application within the industry. Target: 1% by 2030.
Note on Technological Innovation Investments
Technological innovation investments in agricultural insurance primarily include expenditures on:
- Technical personnel
- Technology service fees
- Intangible assets related to technology
- Fixed assets
Source
金十数据Eastern
Part of this Story
China sets 2030 targets for agricultural insurance penetration, density, and tech investment