Zhenping county, Nanyang, signed an agreement with China Life Insurance on July 13 to cooperate in poverty alleviation, e-commerce and finance.
A government official of Zhenping county signs a cooperation agreement with a China Life Insurance representative on July 13. [Photo/nydt.cn]
China Life Insurance will provide small loans of 10,000 to 50,000 yuan ($1,488 to $7,442) to local impoverished people that are aged below 60 years old and have the ability to work. Accidental injury and medical insurances will also be offered to families falling into poverty due to accidents or illness.
E-commerce cooperation will be conducted by the two parties based on local resources and talent. China Life Commerce will establish a trade company in Zhenping and sell local specialty products through its online platform.
The third area of cooperation will involve providing financial support to Zhenping. Funding will be given to projects involving plantations, aquaculture, deep processing of agricultural products, and infrastructure construction.
The cooperation agreement will further the development of Zhenping's economy and promote the development of the insurance industry. Next, the two sides plan to collaborate in other areas such as agriculture, entrepreneurship and innovation.