BEIJING — China has made huge strides in poverty reduction, achieving the government’s target of lifting 10 million people out of poverty this year.

The country’s financial input for poverty reduction hit a record high this year, with that from the central and provincial governments exceeding 100 billion yuan (about $14.5 billion) for the first time, Liu Yongfu, head of the State Council Leading Group Office of Poverty Alleviation and Development, told a conference on Dec 20.

Breakdown figures showed the central budget allocated 66.7 billion yuan for poverty reduction this year, up 43.4 percent year on year, while that allocated by provincial governments rose more than 50 percent to top 40 billion yuan.

China has lifted 700 million people out of poverty through more than 30 years of reform and opening-up. The nation aims to eliminate poverty by 2020.

To meet this goal, China must lift 10 million people out of poverty each year from 2016 to 2020.

Liu said the country will work on several fronts in 2017 to reduce poverty: promoting industrial development in poor regions; giving the poor easier access to employment services, healthcare and education; and improving infrastructure facility in poor regions.