Business · Companies · 2 hrs ago
Hangzhou technology insurance covers 991 small businesses
Hangzhou has enrolled 991 technology companies in the first round of its “Good Seedling Insurance” scheme.
The city’s science and technology bureau arranged cover for 1,051 selected companies, and 94.29% joined.
The scheme provides 1.585 billion yuan in total risk coverage, with each company eligible for up to 1.6 million yuan.
Launched in July, the programme was designed for technology-focused small businesses that can struggle to get insurance suited to their risks.
The city government arranged the cover centrally, so companies did not need to negotiate prices or complete complex application checks.
About 90% of the enrolled firms belong to Hangzhou’s advanced manufacturing clusters, and 84.2% chose an extra insurance option tailored to their industry.
Coverage lasts two years, matching research and development cycles that often exceed the one-year term common in property insurance.
Hangzhou’s “Haomiaobao” technology insurance enrolled 991 small and medium-sized technology businesses in its first round.
The city’s science and technology bureau arranged coverage for 1,051 selected companies, with a participation rate of 94.29%.
The policies provide a total of 1.585 billion yuan in risk coverage, with maximum coverage of 1.6 million yuan per company.
The insurance covers research and development risks for two years and includes industry-specific additional coverage.
About 90% of participating companies belong to Hangzhou’s “296X” advanced manufacturing clusters.
- Who
- Hangzhou’s Science and Technology Bureau arranged insurance for technology-focused small and medium-sized businesses.
- What
- The first round of “Haomiaobao” coverage enrolled 991 companies and provided 1.585 billion yuan in total risk coverage.
- When
- The first enrollment round was completed by the end of September 2026. The programme was launched in July 2026.
- Where
- Hangzhou, China.
- Why
- The programme aims to address technology businesses’ difficulty obtaining suitable insurance and managing risk.
This story does not have two clearly opposing sides.
Hangzhou officially launched the Haomiaobao programme.
The first round of group enrollment was completed, with 991 of 1,051 selected companies insured.
Hangzhou’s Science and Technology Bureau reported the first-round enrollment figures.
- Insured businesses
- 991
- Participation rate
- 94.29%
- Total risk coverage
- 1.585 billion yuan
- Maximum coverage per company
- 1.6 million yuan
- Coverage period
- 2 years
- Industry reach
- 17 industrial categories
1 source
What people are saying
In the past, these specialized terms were hard to buy in the commercial insurance market, and businesses often had to bear the risks themselves; after being customized by the government, Haomiaobao directly incorporates them into the coverage package, and businesses can select them according to their industry.