Home · Weather · Forum · Learning Chinese · Jobs · Shopping
Search This Site
China | International | Business | Government | Environment | Olympics/Sports | Travel/Living in China | Culture/Entertainment | Books & Magazines | Health
Home / Business / News Tools: Save | Print | E-mail | Most Read | Comment
Progress on poverty: World Bank
Adjust font size:

The World Bank on Friday praised China's efforts to reduce poverty by developing agriculture, but said more funding is needed if it is to further lift the standard of living among the rural poor.


The country's biggest achievement in the past two decades is poverty reduction, Sari Soderstrom, rural sector coordinator of the World Bank China, said on Friday at the release of the latest World Development Report 2008.


World Bank economists said poverty reduction has been made possible as agricultural productivity rises.


"Agricultural growth has been highly successful in reducing rural poverty in East Asia over the past 15 years," said Francois Bourguignon, chief economist and senior vice-president of the bank.


In China and India, agricultural productivity has gone up while poverty has been going down in recent decades, said Harold Alderman, World Bank economist and co-author of the report, "Agriculture for Development".


"There has been sustained progress in both countries."


Many countries have sought to learn from China's experience, said Sari. "Most developing countries are looking to China to try to duplicate recipes of success for this."


China reduced the number of poverty-stricken people by 195 million - by the World Bank standard - during the 1990-2002 period, according to a report released by the State Council Leading Group Office of Poverty Alleviation and Development on Wednesday.


That number accounts for more than 90 percent of the total reduction worldwide in the period.


China has been increasing funding to agriculture and rural areas in its drive to build a new countryside, as it tries to narrow the rural-urban development gap.


The government abolished agricultural tax at the beginning of last year.


The World Bank acknowledged the efforts of transforming economies, including China, to provide better incentives, but warned that the real challenges lie ahead.


"Rural poverty accounts for an extraordinary 82 percent of total poverty in transforming countries," said Robert Zoellick, World Bank Group president.


"A greater focus on agriculture is essential when considering population pressures, declining farm sizes, water scarcity and environmental contamination and the need to develop lagging high-poverty areas."


The World Bank suggested that farmers need to be helped to develop high-value products, such as horticulture, poultry, fish and dairy, and financial access should be made easier for them.


"State-owned banks (in developing countries) would not like to lend to rural development although they are told to," said Sari.


Agricultural spending also needs to be channeled in a more efficient way, she said.


(China Daily October 20, 2007)

Tools: Save | Print | E-mail | Most Read

Username   Password   Anonymous
China Archives
Related >>
- China vows to further strengthen poverty reduction
- Poverty reduction 'still a challenge'
- China's poverty reduction initiatives on right track
- 'China makes remarkable success in poverty alleviation'
- Returning farmland to forests to protect income
- Nation leads in poverty reduction
- Countryside, rural people a top priority
- Farmers Earn More, But Still Lag Behind
Most Viewed >>
-China set to hit the brakes on rising yuan
-Power to resume shortly in worst-hit area by snow
-Macao's gaming market expands further
-Online operators are on top of the game
-Insurance firms set to stump up billions

May 15-17, Shanghai Women's Forum Asia
Dec. 12-13 Beijing China-US Strategic Economic Dialogue
Nov. 27-28 Beijing China-EU Summit

- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?
SiteMap | About Us | RSS | Newsletter | Feedback

Copyright © All Rights Reserved E-mail: Tel: 86-10-88828000 京ICP证 040089号