China's Ministry of Finance will spend US$13 billion next year for poverty eradication.

China plans to intensify ongoing programs to bring another 10 million people out of poverty next year, an objective which is part of a plan that aims to eradicate poverty completely by 2020.

In order to relocate poor residents of rural areas, China must reach the housing goals provided for in the XIII Five-Year Plan (2016-2020), Deputy Prime Minister Hu Chunhua explained.

More than 10 million rural inhabitants are projected to leave behind poverty, in 2018, 2.8 million of whom are expected to be relocated to new dwellings.

In 2013, China's central government launched an ambitious plan that should conclude in two years with the construction of a ‘modestly prosperous society,’ in which all citizens could live in dignified conditions.

Over the last five years, the campaign has benefited 68.53 million low-income Chinese in rural areas, which means a decrease of up to 10 percent in the national poverty rate.

However, there are still 30.46 million Chinese living in poverty.

But, the Asian country has, so far, lifted 740 million rural inhabitants out of poverty from 1978 to 2017. The figure implies that an average of 19 million Chinese left poverty each year over the past 40 years, the New Indian Express reported.

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China has a good record of poverty elimination. pic.twitter.com/4RdjKFj9AZ — SIRAGUGAL TRUST (@Siragugal2serve) December 29, 2018

According to the definition of the poverty line, people whose annual income is lower than US$337, are considered to be poor. Judged against this standard, China is a model for the world in poverty reduction as its last 4 decades of reform have created a "miracle" of reducing poverty occurrence from 97.5% in 1978 to 3.1% in 2017.

President of the 73rd session of the United Nations General Assembly Maria Fernanda Espinosa said that the Chinese effort, in poverty reduction, is of great significance to global governance.

"It's going to set an example for the rest of the international community. That is very very clear," Espinosa expressed.

In order to tackle poverty in 2019, the Chinese Ministry of Finance has allocated US$13 billion to a "poverty alleviation fund," which benefits 28 provinces, autonomous regions and municipalities.

Among the areas deeply immersed in poverty, which will be supported by those financial resources, are Tibet, Xinjiang, Sichuan, Yunnan and Gansu provinces.