Shinan district in Qingdao, Shandong province has launched a series of poverty alleviation projects in Dangchang county, Gansu province this year to win the fight against poverty.

Dangchang county is a traditional agricultural county and one of the 52 severely poverty-stricken counties under the supervision of the Poverty Alleviation Office of the State Council. The price fluctuation of agricultural products is a crucial factor for the county in winning the battle against poverty.

Fortunately, the financial industry in Shinan is highly developed, and financial products can help farmers in Dangchang effectively avoid price fluctuations and steadily increase their incomes.

Therefore, Shinan proposed "insurance + futures" special poverty alleviation products, ensuring that when the price of eggs goes down, farmers can be compensated for the price difference in a timely manner.

The project, with an aggregate investment of 1.43 million yuan ($204,668), ensures up to 3,250 tons of eggs (worth roughly 30 million yuan) and will apply to 2,339 low-income households.

After the implementation of the project, Shinan will further bolster the breeding industry in Dangchang and work to increase the incomes of low-income households in the county.