Nominal income of China's impoverished rural residents rises

A farmer shows harvested chili peppers in Changgangzi Village of Xiushuihezi Township, Faku County, northeast China's Liaoning province, Oct. 9, 2019. (Photo: Xinhua)

China's rural residents in poverty-stricken areas saw their per capita nominal disposable income rise 2.7 percent year on year to 3,218 yuan (about 455.8 U.S. dollars) in the first quarter, official data showed.

The growth rate was 1.8 percentage points higher than the income expansion of rural residents nationwide. Adjusted for inflation, per capita income growth went down 3 percent, according to the National Bureau of Statistics (NBS).

NBS official Fang Xiaodan attributed the nominal growth to a string of targeted policies to help impoverished workforces get back to work, expand sales channels for rural products and spur poverty-alleviation consumption to mitigate the impacts of the novel coronavirus outbreak.

Chinese authorities have ramped up efforts in recent months to overcome the negative impact of the COVID-19 epidemic to ensure the country reaches its goals in poverty alleviation.

Last week, the People's Bank of China and the China Banking and Insurance Regulatory Commission urged all financial institutions to continue to carry out financial poverty alleviation work this year and focus on deeply impoverished areas and counties that are still stuck in poverty.