Central State-owned enterprises (SOEs) had implemented targeted and effective measures in 246 poverty-stricken counties by the end of 2017. All the central SOEs have established poverty relief and development institutions, as well as project management and supervision mechanisms.
The State-owned Assets Supervision and Administration Commission of the State Council has continuously promoted two projects mainly conducted by central SOEs to alleviate poverty in typical impoverished regions, such as old revolutionary areas, solving such problems as the lack of roads, water and electricity. The projects have helped 88,000 poor residents and benefited a total of 1.11 million people.
Central SOEs have also set up a poverty-relief capital operation platform to encourage different sorts of capital to flow to impoverished regions. A related industrial investment fund, which was proposed by SASAC and founded by central SOEs, now has 15.4 billion yuan ($2.33 billion).
As of April, 2018, the fund had invested 9.2 billion yuan in 45 projects, and attracted over 100 billion yuan in social capital, which will benefit 14 contiguous impoverished regions.
It had also invested 1.44 billion yuan in several of the poorest areas in China, including four prefectures in southern Xinjiang, Tibetan-inhabited areas in four provinces of Sichuan, Yunnan, Qinghai and Gansu, as well as the Liangshan Yi and the Nujiang Lisu autonomous prefectures. About 12,000 residents are expected to be lifted out of poverty due to the investment.
(Executive editor: Hao Wen)