Updated 8:44 AM EDT, Wed, Aug 18, 2021

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Beijing to Allocate $93 Billion to Lift 10 Million Citizens Out of Poverty in 2016

China Poverty

(Photo : Photo by Oleg Nikishin/Newsmakers) Beijing has announced that it will spend $93 billion to ease the lives of 10 million poor citizens starting next year.

As China targets higher economic growth next year, Beijing will spend 600 billion yuan ($93 billion) to alleviate poverty for about 10 million impoverished people, an official said on Tuesday.

According to Xinhua, Su Guoxia, spokesperson of Poverty Alleviation and Development Office, said in line with Beijing's policy of improving the living conditions of poor people in the country, all government level investments should take into consideration the country's poor by increasing the poverty alleviation fund starting next year.

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In a press conference, Su said that starting next year the central and provincial governments will allocate a higher budget of about  600 billion yuan ($93billion) to helping the poor.

Su revealed that the Central Committee of the Communist Party of China (CPC) and the State Council released a poverty alleviation instruction last week detailing plans to help ease the lives of the the country's remaining 70 million poor people by 2020.

The instructions is the offshoot of a high-profile conference on the issue that was held in Beijing in November. During the gathering, Chinese leaders promised to lift the underprivileged people in the country out of poverty.

Among the policy guidelines that were made by the central leadership was a call for creative ideas and methods to address poverty and expedite the relocation of people living in tough and disaster-prone areas.

The document called for the banks to provide impoverished people with favorable long-term loans for relocation purposes with the central government paying 90 percent of the interest.

Around 600 million Chinese have been lifted out of poverty in the last three decades with the help of the central government's pro-poor measures and policies. The figure represents about 70 percent of the total global achievement.

Last year, around 70 million people in the country were found to live below the poverty line, earning a measly 2,300 yuan annually.

The Chinese leadership said the gauge of a true successful economy is being able to lift the country's poor citizens out of their circumstance and giving them a decent living.

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