China is aiming to eradicate rural poverty by 2020, lifting its remaining 55 million rural poor above the poverty line of 2,300 yuan in annual income.
Last month, Henan Province set goals for poverty reduction at its local “two sessions” meetings of lawmakers and political advisers.
The province said it is aiming to lift about 1 million rural residents out of poverty this year and to eradicate the problem by 2019. More than five million people were below the poverty line at the end of 2014, with about 3.5 million of that total having now been lifted out of poverty.
To meet these targets, Henan is encouraging the development of businesses to raise incomes in the least developed areas.
But it takes money to start and sustain a business and banks are often unwilling to provide the necessary loans. CGTN visited Lankao county, where the local government has set up a 10-million-yuan fund for poverty alleviation.
The fund will allow villagers to get business loans from the bank without paying interest.