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Xinjiang issues 11.9 bln USD of rural insurance in 2018

  URUMQI, Feb. 24 (Xinhua) -- Northwest China's Xinjiang Uygur Autonomous Region issued rural insurance worth over 79.8 billion yuan (around 11.9 billion U.S. dollars) in 2018, according to local financial regulators.

  The central and regional government subsidize 80 percent of the rural insurance cost. The insurance offers compensation for farmers' economic losses in cases such as natural disasters, epidemics and diseases.

  Xinjiang's rural insurance in 2018 covered over 3.75 million hectares of crops and 4.9 million farm animals, according to the regional banking and insurance regulatory bureau.

  The area of crops covered is the highest number since 2007, according to Zhou Ling, general secretary of insurance association of Xinjiang.

  The region will continue to expand the coverage of rural insurance in 2019, Zhou said.