The Shanghai Futures Exchange has accelerated the launch of the "insurance plus futures" project of natural rubber to support poverty alleviation and the resumption of the rubber industry, sources with the bourse said.

The project, with an accumulated fund of 150 million yuan (about 21.42 million U.S. dollars), will help secure stable prices for about 189,500 tonnes of natural rubber in 25 counties in China.

Most of the natural rubber produced in China is from poverty-stricken areas, and the COVID-19 epidemic has posed challenges to the poverty elimination of rubber farmers and the work and production resumption of rubber enterprises.

It is estimated that over 100,000 rubber farmer households will benefit from this project, according to the Shanghai Futures Exchange.