Implementation Effect Of Xinjiang Cotton Futures Price Insurance Investigation And Research On Influencing Factors

Xinjiang is the largest cotton producing base in China,and the income of cotton planting is the main economic source of most farmers in xinjiang.In recent years,due to the occurrence of natural disasters,rising planting costs,fluctuating prices,and the failure of yield to be effectively transformed into benefits,it has become the bottleneck of the development of cotton industry.In order to promote the sustainable development of the cotton industry in xinjiang,ensure the efficient supply of cotton in xinjiang and improve the economic benefits of cotton in xinjiang,a series of measures have been implemented to support the development of cotton in xinjiang.The previous policy of target price subsidy was internationally recognized as an anti-cyclical subsidy policy inconsistent with WTO rules and was opposed by other cotton producing countries.Therefore,it is urgent to formulate reasonable subsidy measures to ensure the cultivation of cotton.A new cotton futures price insurance system which is being carried out in China with clear policy support is the latest result of compensating the cotton price by replacing the original target price subsidy by formal financial means.This thesis adopts the method of literature analysis,telephone interview and questionnaire to evaluate the implementation effect of cotton price insurance in xinjiang.On this basis,the obstacle factor was sorted by obstacle factor analysis method,and the influence of cotton futures price insurance on cotton farmers’ cotton planting intention and cotton planting scale was discussed by using the two-factor logit modeling method.The multivariate orderly logistic regression analysis method was used to find out the factors influencing the implementation effect of cotton futures price insurance.It is concluded that:Firstly,the entropy weight TOPSIS method is used to calculate the comprehensive score of cotton farmers in xinjiang bo le,changji,kashgar and aksu under different indexes.From the results,the implementation effect of different regions is different,aksu region has the highest comprehensive score,and bo le region has the lowest comprehensive score.Using the method of obstacle factor analysis,it is concluded that the most important factor affecting the implementation effect is the claim limit,the speed and publicity strength of claims are the second most influencing factors.People usually hope to get compensation as soon as possible.Good publicity can make cotton farmers better understand the benefits brought by policies and better achieve the original intention of policy implementation.Policy supervision is the third obstacle factor,the past target price subsidy supervision is difficult,cotton farmers get the subsidy is unstable,so cotton farmers pay more attention to the supervision of cotton futures price insurance policy.Second,the implementation of cotton futures price insurance has an obvious effect on cotton planting willingness and cotton planting scale of cotton farmers,among which the influence of publicity,policy supervision,claim rate,claim limit and claim procedure on cotton planting intention of cotton farmers has passed the significant inspection and great influence;The influence of claims procedures on cotton planting scale of cotton farmers has not passed the significant test.Through the multivariate orderly logistic regression model,it is concluded that the implementation effect of cotton farmers’ gender,planting years,cotton planting scale and cotton income ratio has a significant impact on the implementation effect of cotton futures price insurance.At present,cotton farmers have insufficient knowledge of cotton futures price insurance,and the level of claim service needs to be further improved.Through the analysis of the above results,some relevant opinions are given,so that cotton futures price insurance can be better developed.First of all,the government and the insurance industry want to enter the countryside,to strengthen the promotion of new products,to increase the cotton farmers’ cognition of futures price insurance;Second,find out the long-term premium sharing mechanism and strengthen the risk management consciousness of cotton farmers;Third,improve the efficiency of claims,safeguard the scope of claims,and cultivate professional talents in futures market;The fourth fourth strengthening supervision system of cotton futures price insurance improves the risk management mechanism.In the exploration,we will promote and improve cotton futures price insurance to avoid market risks and ensure the continuous supply of cotton.