China Taxation Service
Hotline: 86-755-82143348 Email: anitayao@citilinkia.com
ATAHK reads from Xinhua News that China's Ministry of Finance announced on Wednesday that it allocated12.69 billion yuan (2.08 billion U.S. dollars) to subsidize agricultural insurance in 2013. For details, please refer to the following news from Xinhua News on July 2nd:
The figure was six times that of 2007, the year when the subsidy program was first pilotedin six provinces and regions, involving five planting species.
The program now covers the whole country and 15 species in planting, livestock breedingand forestry.
The agricultural insurance sector pocketed 30.67 billion yuan in premiums from 214million clients last year, when it provided 20.86 billion yuan in compensation to 33.67million clients.
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The ministry has also been boosting financial support for the disadvantaged groups,including the handicapped and poor rural residents. It allocated 9.54 billion yuan tosubsidize small loans to such groups in 2013.
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