The Central Committee of the Communist Party of China ("CPC") and the State Council have recently issued the Guiding Opinions on Winning the Battle Against Poverty in Three Years (the "Opinions").
The Opinions state that, by 2020, the disposable income per capita earned by peasants in poverty-stricken areas will grow at a higher rate than the national average level, and indicators for major fields in basic public services offered in poverty-stricken areas will approach to the national average level. Further, the Opinions call for strengthening the building of power grids in "three regions and prefectures hit with grinding poverty" and accelerating tackling problems like the weak structure of pylons and the relatively lower quality of power supply; also, efforts will be made to inspire such market players as the wholesale markets, e-commerce enterprises and supermarkets to establish long-term and stable supply-marketing relations with impoverished villages, and support supply and marketing enterprises, post offices and other enterprises to extend their service outlets to impoverished villages. Moreover, the Opinions clearly state that financing in the poverty relief field will be regulated, adding that local government bonds will be issued in accordance with the law for the purpose of increasing investment in extremely poor areas to help them get rid of poverty; also, the additional financial funds will be used first to satisfy demands of areas in deep poverty, the new financial services will be laid out first in areas in deep poverty, and differentiated loan interest rates will apply to loans granted to deeply impoverished areas for the targeted poverty alleviation purpose.