Photo taken on Sept. 15, 2017 shows the bird's-eye view of Mannashan Village in Bulangshan Town of Menghai County, southwest China's Yunnan Province. A total of 524 people of the Bulang ethnic group live at the village and most of them have built new houses with the help of government under a policy of poverty alleviation. [Photo/Xinhua]

With China as the major contributor, the ratio of people living in extreme poverty in the world has dropped to less than 10 percent from 40 percent, Kim said.

The World Bank chief's words are not superficial praise but recognition of what China has succeeded in doing over the past decades.

As the world's largest developing country, if China had not substantially reduced its impoverished population, the world would still have a huge number of people living in poverty, and the world's economic development, stability and the international political and economic order would have been under even greater pressure.

To lift 800 million people out of poverty in a few decades demonstrates China's progress in its efforts to build a moderately well-off society. Poverty reduction based on offering financial assistance rather than targeted measures aimed at promoting self-development usually sees those who are lifted out of poverty slide back in again.

Unlike in the rest of the world, to more effectively facilitate poverty alleviation, China has managed to set up a broad system of targeted support for the people still living in poverty. This includes promoting employment and helping them start their own businesses as well as offering services and support.

Despite the different national conditions they face, China's experiences, as suggested by Kim, can offer lessons to other developing countries.

- BEIJING YOUTH DAILY