BEIJING, April 1, 2022— Over the past 40 years, the number of people in China with incomes below $1.90 per day – the International Poverty Line as defined by the World Bank to track global extreme poverty– has fallen by close to 800 million.To take stock of this achievement, a joint study – “Four Decades of Poverty Reduction in China: Drivers, Insights for the World, and the Way Ahead” – was undertaken by China’s Ministry of Finance, the Development Research Center (DRC) of the State Council, and the World Bank, with the China Center for International Knowledge on Development (CIKD) acting as the implementing agency.“As China’s economy adjusts to a new low carbon growth model, its social policies will need to be adapted to support greater labor mobility, upgrade skill levels in line with shifts in labor demand, and offer improved social protection to ensure a just transition.”China’s approach to poverty reduction has been based on two pillars, according to the report.It highlights the need to close remaining gaps in quality education between rural and urban areas and to provide better social protection to migrant workers, and the scope for improved integration of the various existing social security policies.The study was released on March 31 at a joint event in Beijing attended by Secretary of the Party Leadership Group of the DRC Ma Jiantang, Vice Minister of Finance Yu Weiping, and World Bank Vice President for East Asia and Pacific Manuela V. Ferro."