China Announced Measures to Lift Millions of Chinese Out of Poverty

China Announced Measures to Lift Millions of Chinese Out of PovertyChina is planning to lift around 70 million people living in rural areas out of poverty by the end of 2020. This according to a senior official from a government task force that was created to eliminate poverty. The poverty reduction task is being challenged by an economic slowdown and employment pressures, but the government is already planning the necessary steps in achieving the poverty reduction goals which includes lifting 10 million people out of poverty before the year ends.

Along with the steps the government is beefing up subsidizing banks that will provide loans less than 50,000 yuan as seed money for families in poverty stricken areas to start their own businesses since around 42 percent of poor households are impoverished because of medical issues that are affecting at least one family member. Government departments in all levels will be improving its social security network especially in the health care system. By doing this the government will be able to help 10 million poor villagers that lives in geographical areas that are considered not suitable for living to move out and to find a new place to live before 2020.

During the 2015 Global Poverty Reduction and Development Forum, Guo Weimin the spokesperson for the State Council Information Office, said that President Xi Jinping would be delivering the keynote speech that has already drawn 300 delegates from China and abroad. The keynote speech will include poverty eradication and development and is an important part of the 13th Five Year Plan(2016-2020) that will set the road map for economic and social development in the next five years.

The government dominated approach in reducing poverty made a remarkable contribution in the global efforts in eliminating poverty, adding that the decline in the people living in poverty in China since 1990 accounts for 70 percent of the poverty relief during that time.

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