China has exceeded its target of lifting 10 million rural residents out of poverty in 2016. Domestic poverty relief work has reached a new level in its scope and precision, according to reports at the 2016 National Poverty Alleviation and Development Work Conference, which concluded on Dec. 20.

China's central and provincial governments earmarked over 100 billion RMB ($14.4 billion) for poverty relief in 2016, setting a record high in the country's history, according to Liu Yongfu, chief of the poverty relief office of the State Council.

Collaboration between provinces in the developed East and still-developing West has also deepened. According to guidelines issued by the State Council, the country has arranged for 262 developed eastern counties to assist 380 impoverished counties. For the first time, this collaboration covered 30 autonomous prefectures across the nation.

A total of 51 central enterprises mobilized 12.27 billion RMB ($1.76 billion) to build an investment fund for industries in poor western regions. The fund has a long-term goal of reaching 100 billion RMB ($14.4 billion) in the future. In addition, 21,992 enterprises were paired with 21,251 registered poor villages.

China's poverty relief work is making great strides when it comes to industry, relocation, education, health, labor and more. The country is also breaking new ground in the implementation and management of its poverty fund.