3 August, 2012 --- In order to meet the requirements of poverty reduction set out in the Outline for China’s Rural Poverty Reduction and Development (2011-2020), the Workshop on “Social Poverty Reduction & Baoshang Bank Targeted Poverty Reduction” co-organized by IPRCC and Baoshang Bank took place in Beijing. More than 60 representatives from the LGOP, the Central Party School, IPRCC, Baoshang Bank, China Social Entrepreneur Foundation, Ministry of Finance’s Research Institute for Fiscal Science, Peking University as well as the counties aided by Baoshang Bank attended the event. Mr. Huang Chengwei, Deputy Director General of IPRCC chaired the opening ceremony. Mr. Zheng Wenkai, LGOP Deputy Director, Mr. Li Chunguang, Director of the International Cooperation and Social Mobilization Division of LGOP, Mr. Sun Qingju, former Vice President of the Central Party School and Mr. Li Zhenxi, Chairman of Baoshang Bank addressed the ceremony. In his speech, Deputy Director Zheng pointed that, in contrast to sector-based poverty reduction and special poverty reduction, social poverty reduction, as an important part of the poverty reduction program, requires enterprises to shoulder the responsibility and make full use of its advantages to promote the development of poor areas under the government’s support and guidance. Social poverty reduction innovation is an important project, which requires enterprises’ active participation and constant practices. He also noted that China has made great progress in 2012 in fighting poverty, and for the first time, 592 key counties in the nation have been assigned with specific supporting units, which provides a safeguard for comprehensively achieving the goals of poverty reduction in 2020.

The workshop consists of two parts: discussion on the innovation in social poverty reduction methods and connection between Baoshang Bank and its aided counties. In the seminar, experts and scholars from China Social Entrepreneur Foundation, Peking University and Ministry of Finance’s Research Institute for Fiscal Science offered theoretical basis and cases for enterprises’ participation into poverty reduction and innovation from such aspects as public policies, poverty reduction theory and social practice. Later in the afternoon, leaders from seven counties met with their supporting branches and discussed on the counties’ requirements and Baoshang Bank’s financial poverty reduction program. The workshop led to a deeper understanding between the two parties and clearer goals for future’s work.