“Sister Sun’s Annoying Things” ?? Record Tianjin’s first “bank + insurance + futures” model landed
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“A few days ago, the price of live pigs fluctuated too frequently, and we caught up with the impact of the epidemic. We farmers are really worried every day. Now, with the ‘bank + insurance + futures’ model, our future sales are guaranteed. My heart is at ease!” Sister Sun, the person in charge of Tianjin Huayuan Pig Breeding Co., Ltd. located in Beichen District, Tianjin, is a well-known pig breeder in the industry. It turned out that Sister Sun had just obtained a loan from China Construction Bank two years ago In the construction of a new farm, after completion, “building pigs” will be realized, and the annual slaughter volume can reach tens of thousands. This was originally a happy thing for Sister Sun, but then the violent fluctuation of the trading price of live pigs turned the happy thing into a worrying thing. Faced with the situation that the larger the slaughter volume, the greater the loss, Sister Sun was at a loss for a while.
“Thanks to the golden idea of CCB, we can finally get rid of the days of worrying about the price of pigs. The income is guaranteed, so we can roll up our sleeves and work hard!” The “insurance + futures” model written in the No. 1 Central Document. However, because farmers have relatively low awareness of financial instruments and other reasons, it is difficult to promote the ordinary “insurance + futures” model.
The exploration of a new model of “banking + insurance + futures” financial empowerment for rural revitalization led by China Construction Bank has brought good news to farming enterprises like Sun Dajie. This is also the first time this business model has been implemented in Tianjin. Pig farmers purchase pig futures price insurance from the insurance company, and the insurance company buys the option of the insured target from the futures company to transfer risk by using the enhanced Asian put option, and the futures company uses the futures market to hedge the price risk of the corresponding commodity. China Construction Bank provides loan support and subsidies for insurance premiums, eventually forming a closed loop of agricultural support from the transfer of price risk to financing and loan support. So that farmers’ own interests have been effectively guaranteed, and at the same time, the bank’s own credit has been mitigated.
Behind the story of Sister Sun is the specific practice of CCB Tianjin Branch to actively explore and innovate in the process of promoting rural revitalization, and it is also a successful case of cross-border cooperation among banks, insurance, and futures. In order to ensure the solid implementation of the business, a “CCB Representative Team” led by the Interbank Business Department of CCB Tianjin Branch, jointly with the Inclusive Finance Business Department of the branch and CCB Tianjin Beichen Sub-branch was established, and formed a cross-border team with relevant departments of Pacific Property Insurance and Changjiang Futures The “bank insurance period service team” went deep into pig farms to carry out on-site investigations, and simplified complex financial knowledge to form an easy-to-understand “bank + insurance + futures” solution for farmers. At the same time, facing the situation of not yet receiving government project subsidies, Actively plan the source of expenses to ensure the promotion of business implementation.
But when the troubles were resolved, “how long is the guarantee period?” With the beginning of the story… Sister Sun also smiled gratifiedly when she looked at the pink and tender baby pigs.
The successful implementation of Tianjin’s first “bank + insurance + futures” order is an effective attempt by CCB Tianjin Branch to fully implement the spirit of relevant documents such as the Central Rural Work Conference and the Central No. The specific practice of the Bank’s “Implementation Plan for Vigorously Promoting the “Bank + Insurance + Futures” Business Model of Agricultural Products” landing in Tianjin and empowering regional agricultural economic development has created a “model room” for comprehensively promoting rural revitalization and improving the multi-input mechanism for rural revitalization. It demonstrates the wisdom, responsibility and responsibility of CCB.
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