Countermeasure Research On Promoting Nenjiang Mode Of Agricultural "Insurance+Futures"

As a long-standing agricultural country,China has always placed the issue of food in the first place,and agricultural development is the top priority.In 2014,following the cancellation of the temporary storage policy,the state proposed the gradual establishment of the target price system for agricultural products and the exploration of the target price insurance pilot program for agricultural development in the No.1 Document of the Central Government.The reform pilots were launched.In Inner Mongolia and the Northeast,the target price reform of soybeans was carried out.In 2017,the government vigorously promoted the market-based acquisition of soybeans,adjusted the target price policy accordingly,and established a producer subsidy system.However,with the reform of domestic agricultural policies towards supply side in recent years,the domestic agricultural product price formation mechanism has been reformed,and the government has vigorously promoted agricultural product prices for market pricing,the risk of soybean price fluctuations increases,growers will bear greater risks,and the uncertainty of earnings increases.At the same time,the policy requires exploring the establishment of agricultural product futures and agricultural insurance linkage mechanism,steadily expanding the "insurance + futures" pilot,introducing option tools into the agricultural product price risk management mechanism,and using the futures market for agricultural product price risk.Due to the management demand for soybean price risk,and implementing the requirements of the “Insurance + Futures” pilot project proposed by the Central No.1 Document,Zheshang Futures Co.and Nenjiang County Government actively cooperated to develop the “Insurance + Futures” Nenjiang Model(hereinafter referred to as “ Nenjiang mode").This paper uses the literature research method and comparative analysis method to combine the theory of "insurance + futures" with the actual analysis,paying attention to the soybean price risk management in Nenjiang County of Heilongjiang Province.The Nenjiang model jointly developed by Zheshang Futures Company and Nenjiang County Government is the specific research object.The Nenjiang model has been carefully analyzed in response to agricultural development policies,management of soybean price risk fluctuations,and innovative operational principles.It summarizes the effect advantages of the Nenjiang model in improving the efficiency of subsidy utilization,accurately alleviating poverty,avoiding the risk of falling soybean prices,innovating the exercise method,etc.This paper analyzes the specific implementation effects,progress and benefits between 2015 and 2018.In the process of analysis,it was found that farmers lacked deep understanding of futures and other financial instruments,the government had concerns about the promotion of “insurance + futures” Nenjiang model,there was a mismatch between the static pricing of insurance company premiums and the dynamic pricing of options,the current futures market products could not be satisfied,the lack of communication and trading platforms.In order to address these issues,from the perspective of four participants,suggestions are made to strengthen education and training for farmers,to implement financial subsidies for “insurance + futures” at the national level,to promote agricultural income insurance,and to develop various options and tools.These references have been made for the optimization of the "insurance + futures" Nenjiang model and the further promotion of the model.