金融英语：China to raise judgemental standard for poverty
China will raise the standard for poverty to 1,500 yuan ($226) of annual net income for individuals, enlarging even more the group, a 21st Century Business Herald report said Friday.China had set the standard to 1,196 yuan ($180) in 2008. After nearly ten years' efforts, the country miraculously reduced the poor populace to 35.97 million in 2009 from the 94.23 million it had by the end of 2000, when the standard was 625 yuan ($94).
Cao Wendao, an official from the World Bank Beijing Offfice, told the media that the lifting of the standard will likely retake, or even exceed, the number in the year 2000.
The change in the standard will also mean that the government will have to launch more supporting policies.
According to the international standard for poverty, to be considered poor, a daily consumption of $1.25 or less is needed.
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