In early September, Typhoon Yagi swept across southern China, severely impacting Hainan, Guangdong and Guangxi provinces. The typhoon caused four deaths and 95 injuries in Hainan, and a total of 1.2 million people were affected in the three provinces, according to the most recent official statistics.
Hainan’s agriculture sector was heavily damaged, with economic losses of around CNY 11.95 billion (1.69 billion USD), reports China Youth Net. Over half of the loss was due to damage to fisheries. At an offshore fish farm near Hainan, a reporter from China News Service photographed the power of the storm: a fish cage that had originally been shaped like an “O” had been deformed into an “8”. Another cage, with a circumference of 80 metres, was almost entirely sunk, with only a small part visible above the surface.
After the typhoon passed, fish farmers quickly began inspecting and repairing their cages. Insurance claims are already being processed. One aquaculture company received an advance payout of CNY 600,000 (USD 85,000) for damages to its deep-sea golden pomfret cages, according to China Fisheries News.
The company sent a disaster report to their insurer which in turn conducted an underwater survey. The insurer then activated an advance compensation mechanism and issued the first payment to help the company resume production. Final compensation is expected to exceed CNY 3 million (USD 425,000) for this claim alone.
According to China Fisheries News, that project is part of a pilot initiative for aquaculture insurance launched under the guidance of the local authorities. The insurer is the China Fisheries Mutual Insurance Society (CFMIS) Hainan, with the municipal government covering 70% of the premium subsidy. The aim is to “enhance the risk resilience of fishery producers and support rural revitalisation”.
Yagi is not the only typhoon to affect China in September. Bebinca made landfall in Shanghai in mid-September, and is expected to continue impacting multiple provinces and cities. Pulasan is also approaching the coastal areas of Zhejiang. The Zhejiang Provincial Department of Agriculture and Rural Affairs has issued a notice, urging the aquaculture industry to reinforce facilities to mitigate the storms’ risks.