China will invest 946.3 billion yuan ($140 billion) by 2020 to relocate its poorest citizens from remote, inland regions to more developed areas, the state planner said on Monday.
The mass relocation is part of a strategy to lift 10 million people out of poverty by 2020, with 2 million estimated to be moved this year, the state council said in May.
The funds will be used mainly to construct homes, support facilities and basic public infrastructure, with the rest going to the restoration of vacated lands, state planner National Development and Reform Commision (NDRC) said in a document.
The investment will be financed mainly by China’s two policy banks – China Development Bank and Agricultural Development Bank of China, who will provide 341.3 billion yuan in long-term loans and 50 billion yuan in construction bonds – as well as by local governments, who will provide 285.8 billion yuan.
Local governments will also raise up to 100 billion yuan through bonds, while the central government in Beijing will allocate around 80 billion yuan. Relocated villagers are expected to contribute 21.5 billion yuan.
China’s poor make up about 5 percent of a population of 1.4 billion, living mostly in the countryside and earning less than 2,300 yuan a year, according to the government and state media.
Some of the villagers will move to areas with better social services, such as schools and hospitals, while others in remote areas will move to places with better roads and water supply.
China aimed to lift all its 70 million poor above the poverty line by 2020.
More than 12 million people were moved in earlier relocation efforts as of the end of last year, the NDRC said.
Wang is a prolific business-oriented writer of emerging and disruptive technologies. He is known for insightful articles that combine business and technical analysis that catches the attention of the general public and is also useful for those in the industries. He is the sole author and writer of nextbigfuture.com
, the top online science blog. He is also involved in angel investing and raising funds for breakthrough technology startup companies.
He gave the recent keynote presentation at Monte Jade event with a talk entitled the Future for You. He gave an annual update on molecular nanotechnology at Singularity University on nanotechnology, gave a TEDX talk on energy, and advises USC ASTE 527 (advanced space projects program). He has been interviewed for radio, professional organizations. podcasts and corporate events. He was recently interviewed by the radio program Steel on Steel on satellites and high altitude balloons that will track all movement in many parts of the USA.
He fundraises for various high impact technology companies and has worked in computer technology, insurance, healthcare and with corporate finance.
He has substantial familiarity with a broad range of breakthrough technologies like age reversal and antiaging, quantum computers, artificial intelligence, ocean tech, agtech, nuclear fission, advanced nuclear fission, space propulsion, satellites, imaging, molecular nanotechnology, biotechnology, medicine, blockchain, crypto and many other areas.