BEIJING — The Chinese government has allocated 1.6 billion yuan ($240 million) from the central budget to support projects in less developed regions, authorities said on June 20.
The funds will target contiguous less developed regions in 21 provincial regions, according to the National Development and Reform Commission.
County governments will have the power to choose what projects will receive the investment.
The move is to fight poverty through practical means with priorities given to agriculture and rural infrastructure, instead of merely distributing funds.
China aims to lift 70 million people out of poverty by the end of 2020.