The Ministry of Finance, the Ministry of Agriculture and Rural Affairs, and the State Administration of Financial Supervision recently jointly issued a notice to deploy the comprehensive implementation of the full cost insurance and planting income insurance policies for the three major grain crops nationwide. According to the notice, the insured subject matter is the three major grain crops of rice, wheat, and corn, which are related to national economy, people's livelihood, and food security. Among them, full cost insurance is an agricultural insurance that covers the total cost of agricultural production, such as materialized costs, land costs, and labor costs, with the insured amount covered; Planting income insurance is an agricultural insurance that reflects the price and output of agricultural products in terms of insurance amount, and covers the relevant agricultural product planting income in terms of protection level. The insurance coverage targets all farmers and agricultural production and operation organizations, including moderate scale operating farmers and small farmers. In terms of subsidy programs, the subsidy ratio for the full cost insurance and planting income insurance premiums of the three major grain crops is based on a provincial financial premium subsidy of no less than 25%. The central government subsidizes 45% for the central and western regions and the northeast region, and 35% for the eastern region. On the basis that the relevant central units bear no less than 10% of the premium, the central finance shall implement the subsidy ratio for the premium of the relevant central units according to the subsidy ratio of their planting business location. (Lai Xin She)