China to strengthen asset management of poverty alleviation projects

The State Council approved enhancing the follow-up asset management of poverty alleviation projects, according to a circular released on June 4.

To find out the scale of poverty alleviation projects for better management, the assets should be divided into business assets, nonprofit assets and household-owned assets.

As required by the circular, all the assets gained from financial funds at all levels, local government bonds, funds for coordination between East and West China, social donations and paired-up assistance programs since the 18th National Congress of the Communist Party of China will be sorted out for management, especially business and nonprofit assets.

Registration for project assets should be advanced in an orderly manner. Combined with reform of the rural collective property rights system, qualified projects should be registered, transferred and included in the related management system, it stated.

Governments at provincial and city levels should guide and supervise the follow-up asset management.

Management and protection responsibilities should be clarified according to features of the assets, and diversified and multi-layer management and protection models should be explored.

Revenue allocation of business assets should be carried out in accordance with the current asset management mechanism, and in the absence of clear regulations, decisions should be made through a democratic decision-making process.

Revenue from the poverty allocation projects should be used mainly for consolidating poverty alleviation results and revitalizing rural areas.