What is poverty? Can’t afford to buy an iPhone or an apartment in a big city? No, no, of course not. China’s current per capita rural poverty line is 2,300 yuan a year based on 2010 constant prices and roughly 2,855 yuan in 2015. People below that line are officially regarded as living in poverty.
After 37 years of opening up and reform, over 700 million Chinese have been lifted out of poverty. China has essentially realized the Millennium Development Goals ahead of schedule, contributing to over 70 percent of the world’s poverty reduction.
However, over 55 million people are still living under the poverty line. China has proposed “targeted poverty reduction” to hand out funds and provide other measures to help people in the most urgent need.
Absolute poverty will be eliminated in the entire world by 2030. But China will reach this ambitious goal 10 years earlier.