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General News    H4'ed 10/19/16

China creates fund and mobilizes to eliminate extreme poverty

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Percentage population living on less than 1 dollar day
Percentage population living on less than 1 dollar day
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China established an extreme poverty relief fund with an initial 12.2 billion yuan (US$1.81 billion) in capital from 51 state-owned enterprises, including the State Development and Investment Corp and the State Grid. That sum will eventually grow as as much as 100 billion yuan (US$14.8 billion), according to a statement from the State Council's State-owned Assets Supervision and Administration Commission.

China pledged to lift 10 million people out of poverty every year from 2016

According to World Bank statistics, over the past several decades China has accounted for more than 70 per cent of reductions in global poverty.

Without China's contribution, it's doubtful world poverty rates would have declined at all. 
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Scott Baker is a Managing Editor & The Economics Editor at Opednews, and a former blogger for Huffington Post, Daily Kos, and Global Economic Intersection.

His anthology of updated Opednews articles "America is Not Broke" was published by Tayen Lane Publishing (March, 2015) and may be found here:

Scott is a former and current President of Common Ground-NY (, a Geoist/Georgist activist group. He has written dozens of (more...)

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