Poverty alleviation Photo:VCG

Over the past 40 years, China has lifted nearly 800 million people out of poverty, accounting for more than 75 percent of global poverty reduction in the same period, according to a new report released on Thursday.

The report, titled Four Decades of Poverty Reduction in China, was jointly released by the Ministry of Finance, the Development Research Center of China's State Council and the World Bank. 

The report listed two main factors that contributed to poverty alleviation in China. One was a broad-based economic transformation, which has provided new development opportunities for the poor and continuously raised their incomes; the other was the targeted policies of the government to eliminate long-term poverty in areas that had been mired in poverty due to their locations and other factors.

The targeted poverty alleviation strategy was of great significance for eliminating absolute poverty - the World Bank's global absolute poverty standard of $1.90 per person per day, the report noted.

Manuela Ferro, World Bank vice president for East Asia and the Pacific, said that China's poverty reduction is also a story of sustained growth through economic transformation. As China's economic reforms deepen, its social policies need to be adjusted to better support labor mobility, improve the quality of workers and adapt to the needs of the labor market, while protecting those vulnerable to the effects of economic transformation.

China solemnly declared its "complete victory" in eradicating absolute poverty in February 2021. The country met the poverty eradication target set out in the UN's 2030 Agenda for Sustainable Development 10 years ahead of schedule, the Xinhua News Agency reported previously.

In July 2021 China announced that it had realized its first centenary goal - building a moderately prosperous society in all respects. The achievement was a milestone for the world's most populous country on its journey toward national rejuvenation.

In a white paper issued earlier in April, 2021 China has detailed its rich experience in poverty alleviation from the past century since the founding of the Communist Party of China (CPC) in 1921. China's experience is to be shared in an effort to contribute to global poverty reduction, which experts said fully demonstrates China's pursuit of common prosperity and its key factors in eradicating poverty, including continuous and targeted poverty reduction plans implemented by the CPC.

China achieved victory in the largest-scale battle against extreme poverty worldwide, as shown by the facts that 98.99 million rural residents, 832 impoverished counties and 128,000 poor villages had all been lifted out of absolute poverty, creating a miracle in human history, reads the paper.

The achievement is truly a miracle in all respects. For the Chinese nation, it means the problem of extreme poverty that had endured for thousands of years has been addressed. For the world, it means one-fifth of humanity has been lifted out of extreme poverty. Throughout human history, no other country has ever lifted as many people out of extreme poverty within such a short period of time. In total, China lifted nearly 100 million people out of extreme poverty, which is nearly one-third of the US population. Over the past eight years, China lifted approximately 10 million people - roughly the size of the entire population of Sweden - out of extreme poverty each year.

Global Times