China has made historic achievements in improving the people's well-being since 2012, said a senior official with the National Development and Reform Commission (NDRC) -- the nation's top economic planner -- on Tuesday.
Speaking at a press conference in Beijing, Xiao Weiming, deputy secretary-general of the NDRC, briefed news media on China's achievements in poverty eradication, social security, education, life expectancy and people's income growth.
"China has made historic achievements in improving the people's well-being in the new era. In a full victory over poverty, nearly 100 million poor rural residents have been lifted out of poverty. China has built the world's largest social security system, with 1.07 billion people covered by basic old-age insurance and 1.32 billion people covered by basic medical insurance," Xiao said.
"The coverage of education at various levels has reached or surpassed the average of middle- and high-income countries. In 2024, the average length of education received by new entrants into the workforce was over 14 years. The average life expectancy has increased to 79 years. The national per capita disposable income has reached 41,300 yuan (about 5,752 U.S. dollars), with the relative gap between urban and rural incomes continuously narrowing. The Engel's coefficient has been kept under 30 percent in China," he said.
The Engel's coefficient, which measures food expenditures as a proportion of total household spending, is a key indicator of people's living standards in a country. An Engel's coefficient below 30 percent is generally considered by the United Nations to indicate a wealthy life.
China makes historic achievements in improving people's well-being: official
China makes historic achievements in improving people's well-being: official
China makes historic achievements in improving people's well-being: official
