Financial support key to China's anti-poverty fight

A senior Chinese official tasked with poverty alleviation spoke highly of various financial services dedicated to the campaign and called for increased support.

Liu Yongfu (C), director of the State Council Leading Group Office of Poverty Alleviation and Development, attends a press conference on the country's battle against poverty for the second session of the 13th National People's Congress in Beijing, capital of China, March 7, 2019. [Photo/Xinhua]

The financial sector plays a key role in poverty alleviation, said Liu Yongfu, director of the State Council Leading Group Office of Poverty Alleviation and Development, at a press conference held on the sidelines of the second session of the 13th National People's Congress.

He said many anti-poverty financial services, including micro-credit, re-lending, and special bonds, have been launched and achieved great results.

"Every year, more than one trillion yuan (149 billion U.S. dollars) was spent in poverty-stricken areas and on projects directly related to poverty alleviation," he said.

Liu urged financial institutes to continue increasing financial support for poverty alleviation, citing infrastructure, industrial development, re-settlement programs, and areas of extreme poverty as priorities for assistance.