• By The Financial District


Since the launch of the reform and opening up in the late 1970s, China has seen a sharp decline in the population living in poverty alongside impressive economic growth, with more than 700 million Chinese people have been lifted out of poverty over the past four decades under the World Bank’s poverty standard of $1 a day per person.

China is the first country in the world to achieve the poverty reduction goal of the United Nations Millennium Development Goals, according to state sources, the Deutsche Presse-Agentur (dpa) reported.

In China's rural areas, the proportion of impoverished people has dropped from over 60 percent in 1990 to below 30 percent in 2002, and further plummeted to 4.2 percent by 2014. During this period, China contributed more than 70 percent of global poverty reduction. According to data recently released by the National Bureau of Statistics (NBS), from the end of 2012 to the end of 2018, impoverished population in rural China decreased by 82.39 million-from 98.99 million to 16.6 million, with incidence of poverty dropping from 10.2 percent to 1.7 percent over the same period.

Since the 18th National Congress of the Communist Party of China (CPC) in 2012, the income of rural residents in poverty-stricken areas has increased by 10 percent annually, which is 2.3 percent higher than the national average. In 2018, per capita disposable income of rural residents in poverty-stricken areas reached 71 percent of the national average, which is 8.9 percentage points higher than that of 2012. Now, targeted poverty alleviation has entered the final stage. The key work ahead is to consolidate progress in poverty alleviation, prevent those lifted out of poverty from falling into poverty again and ensure that non-poor people, especially those with low incomes, do not fall into poverty.

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