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The Chinese market of agricultural insurance came in second place in the world
The Chinese agricultural insurance market for the first time outrun the Japanese and, second only to the United States, became the second in the world, Xinhua news agency reported citing the deputy head of the Chinese Insurance Supervision Committee Chen Wenhui.
In 2013, the country's income from agricultural insurance increased to 30,7 billion yuan. For comparison, in 2007 year, when due to central funding in the country only the practice of agricultural insurance began, the amount was only 5,18 billion yuan.
Currently, the agricultural insurance system covers approximately 200 million peasant households working in the fields of agriculture, forestry, livestock, subsidiary fisheries and fisheries.