OREANDA-NEWS. October 03, 2013. In order to accelerate regional development and pilot poverty alleviation in the Wulingshan area, as well as to explore a model of financial support for poverty alleviation and development, the Seminar on Review and Promotion of the Implementation of the "Systematic Financing Plan for the Wulingshan Area of Hunan Province" was held in Changsha this morning. The seminar was co-sponsored by the Hunan Provincial Ethnic Affairs Commission and Hunan Branch of China Development Bank (CDB).

At the meeting, it was disclosed that since pilot work in poverty alleviation and development in the Wulingshan area was initiated in 2011, China Development Bank has accumulatively contributed RMB 68 billion in loans. In addition, projects under development and evaluation amount to another RMB 70 billion.

Hunan's Wulingshan area is located in the central and western regions of Hunan Province. With land area and population respectively accounting for 54% and 64% of the whole reach of the Wulingshan range, it is the principal battlefield for regional development and poverty alleviation in the mountains. The area encompasses seven cities and prefectures and 43 counties, including Xiangxi, Zhangjiajie, Huaihua and Shaoyang. It claims 15 national and 12 provincial key counties for poverty alleviation and development, covering a wide poverty-stricken area. In the area, the per capital net income of peasants amounts to RMB 4,900, equivalent to only 66% of the average in Hunan Province.

The President of CDB Hunan Branch Wang Xuedong stated that over recent years CDB has strengthened its work in poverty alleviation and development in the Wulingshan area and formed multi-level, multi-product comprehensive support for poverty alleviation and development. As of the end of June 2013, CDB has accumulatively invested loans of RMB 68 billion in the area, with projects covering all its poverty-stricken counties and major highway, power and hydrological projects, as well as tourist sites in the area.

Wang Xuedong stated that the key projects under development and evaluation by CDB for the area amount to an additional RMB 70 billion. Support will be further enhanced for key areas such as the construction of major infrastructure, establishment of township systems, small and medium enterprises and standardized development of financing platforms.

Vice Governor of Hunan Province Zhang Shuofu pointed out that, due to its great significance, poverty alleviation and development in the Wulingshan area has drawn the attention of the Party Central Committee and State Council. As the primary battlefield of pilot work in poverty alleviation throughout the wider Wulingshan region, the poverty alleviation and development of the Wulingshan area in Hunan Province is directly connected to the success and failure of the whole pilot project and the comprehensive construction of a comfortable living standard in Hunan Province.

Therefore, the Vice Governor called for recognition of financing as hugely important in supporting the poverty alleviation and development of the area as well as the implementation of systematic financing for the area. In addition to advocating continued strengthening of policy support, study and issuing of opinions on financial support for poverty alleviation and development in the area as soon as possible, enhancing the establishment of financial service systems and striving to improve the ecological environment, the Vice Governor also pushed for establishing and perfecting functional mechanisms, improving coordination and joining efforts to promote investment and financing in the area.

Leaders from the State Ethnic Affairs Commission and China Development Bank were present at the meeting, along with leaders from the Hunan Provincial Ethnical Affairs Commission, Provincial Poverty Alleviation Office and other relevant provincial departments. Leaders from Shaoyang, Huaihua, Zhangjiajie, Xiangxi and other cities, prefectures and counties also attended the meeting, as did representatives from financial and academic institutions. With reference to their actual work, the representatives successively carried out sincere discussion of the construction of investment and financing entities in the area, the difficulties and costs of financing in the area, advancement and implementation of the financing plan, preferential financial policies to be introduced to support poverty alleviation and development of the area and other issues, as well as made various comments and suggestions regarding financial support for the development of the area.