China's crop insurance aims to tackle farmer instability

Amongst other things, it also talked about plans for logistics and the manufacturing sector.

Chinese Premier Li Qiang chaired a State Council executive meeting which greenlit an action plan for the manufacturing sector's digitalisation and discussed implementing full-cost insurance and income insurance for major cereal crops nationwide. 

Additionally, regulations on fair competition review were adopted.

Expanding full-cost insurance and income insurance for major cereal crops nationwide aims to stabilise farmers' incomes and enhance disaster prevention and relief capabilities. 

Coordination among government departments is crucial to ensure timely subsidy allocation and prevent misuse.

The meeting mainly focused on reducing logistics costs and advancing digital transformation in the manufacturing sector. 

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Efforts were emphasised to optimise freight transportation, promote digital, smart, and green development in logistics, and reduce logistics costs significantly. 

The meeting stressed the importance of digital transformation in manufacturing for industrial modernisation, urging support for SMEs in digital adoption and the establishment of long-term mechanisms.

To ensure fair competition, regulations on fair competition review will be refined to address market issues, break regional barriers, and combat industrial monopolies. 

The meeting also approved revisions to regulations on national science and technology awards.