Financial support key to China's anti-poverty fight

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

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) 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.