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COAMC Group Members
China Orient Party Committee Secretary Wu Yue: Accurately-Designed Measures are Key to Targeted Poverty Alleviation—Practice and Reflections on China Orient's Poverty Alleviation in Shaoyang County

□ Author: Wu Yue, Party Committee Secretary and Chairman of China Orient Asset Management Co., Ltd.

In recent years, The Party Committee of China Orient Asset Management Co., Ltd. (hereinafter referred to as 'China Orient') has earnestly implemented the instructions given by General Secretary Xi Jinping on targeted poverty alleviation, and actively shouldered the responsibility of lifting Shaoyang County in Hunan Province out of poverty. By fully exploiting its resources, the Group has taken targeted measures and made overall efforts. A total of over 50 million yuan has been invested as support funds. By continuously enhancing the development of industries, finance, Party building and education, ensuring living standards, strengthening infrastructure building and other support, the Group has helped the county absolutely shake off poverty and become rich.

I. Strengthening responsibility, laying a solid foundation for targeted poverty alleviation

(I) Strengthening organization and leadership, improving responsibility system. The Targeted Poverty Alleviation Leading Group has been established to strengthen leadership, guidance and supervision on targeted poverty alleviation tasks. In the Leading Group, the Secretary of the Party Committee and Chairman of China Orient acts as head; Member of the Party Committee and Vice President of China Orient as deputy head; major responsible persons of related departments of the Headquarters, Hunan Branch and controlling subsidiaries as members. The Leading Group has an office as its working body, which handles official business in the same place with the Organization Department of the Party Committee. The organization gives support in terms of cadre selection, resources allocation, assessment and evaluation, and other aspects and is provided with full-time workers. Cadres have been continuously selected to form a four-person poverty alleviation working group, in which one acts as Executive Member of the County Committee and Deputy Head of the County, one as the First Secretary of the village and the other two as village workers. 

(II) Continuing to make in-depth investigations, identifying responsibilities layer by layer. In the early of each year, the Party Committee of China Orient holds a meeting of the Targeted Poverty Alleviation Leading Group. At each meeting, the targeted poverty alleviation tasks of the Group are fully deployed so that each task is implemented in place. In the middle of each year, the Promotion Meeting of Targeted Poverty Alleviation is held. And in the late of each year, the meeting of the Targeted Poverty Alleviation Leading Group is organized again. Each year, leaders of China Orient make field investigations on Shaoyang County, visit poor villages and poor households, learn about the progress of poverty alleviation and conditions of support industry projects, and coordinate and solve difficulties on site. The Poverty Alleviation Team stays and struggles in the local for long, goes deep among the public and farmlands, learns about poor households' financial conditions, living conditions, causes for poverty and willingness to get rid of poverty, and collects first-hand real data so as to lay a solid foundation for formulating poverty alleviation plans and promoting the advancement of poverty alleviation projects.

(III) Formulating support plans, focusing on steady actions. On the basis of full understanding and in-depth analysis of targeted poverty alleviation, China Orient has worked out the Specifications for the Targeted Poverty Alleviation Leading Group, the Five-year Plan for China Orient's Support to Shaoyang County in Hunan Province, and the Measures on the Management of Targeted Poverty Alleviation Funds. Each year, the plan and key points for targeted poverty alleviation are studied and formulated; and annual key tasks, important moves, implementing steps and guarantee measures for poverty alleviation are arranged and deployed. Also, an audit group is organized to audit the utilization and management of poverty alleviation funds each year so as to ensure every fund is utilized in place.

II. Suiting measures to local conditions, accurately prioritizing key tasks of poverty alleviation

The Party Committee of China Orient regards the planting and breeding industry as the fundamental way out for lifting Shaoyang County out of poverty. It teaches Shaoyang methods, gradually improves the county's blood making function and continuously facilitates the revitalization of the industry.

(I) Shuangxing grapes have enjoyed a widespread reputation. Shuangxing Village in Shaoyang County, as a pairing partner of China Orient, is merged from three villages, with a total population of more than 4,000. There are 216 registered poor households with nearly 1,000 people. In order to help Shuangxing Village explore and open up a new way out of poverty, China Orient has actively helped the village develop the grape industry. In 2019 and 2020, the vineyards became rich in grapes here. Up to 100,000kg grapes were produced on the 260 mu land in the whole village. Only grapes contributed to annual revenue of 800,000 yuan in the village.

(II) Wuhuang shiitake mushrooms have become popular in rural areas. After providing pairing assistance to Shuangxing Village and helped it out of poverty, China Orient continued to assist Wuhuang Village, Hebo Township in Shaoyang County, also as a pairing partner, in 2019. This village was a provincial-level extremely impoverished village and a tough nut to crack. Through full research and demonstration, China Orient finally decided to highlight the development of shiitake mushrooms planting industry in Wuhuang Village. The Group has given full play to the role of 'Workshop of Poverty Alleviation through Industry', and implemented the business management model featuring scaled industrial development, model driving, and poor household' participating in production and gaining remunerations, so that villagers would get employed at home and earn more money. Till now, Wuhuang Village has 26 shiitake mushrooms planting greenhouses, with 130,000 shiitake mushroom sticks planted and annual output value reaching 1.2 million yuan. So, the village has been lifted out of poverty in less than one year.

(III) The county's industries take on a new look. China Orient takes targeted measures to support poverty-stricken villages and develops a collective economy by suiting measures to local conditions, including planting, breeding, agricultural product processing and other industries. At present, these collective economic projects have gradually generated economic benefits. An industrial pattern in which the oil tea industry dominates and characteristic industries such as grapes, shiitake mushrooms, high-quality rice, local pigs, goats, tobacco flue curing, vegetables, local chickens, bronze geese, sweet potatoes and day lily develop simultaneously has been formed in Shaoyang County. Almost all villages have poverty alleviation industries and the whole county takes on a new look of prosperous industries and good harvest.

III. Highlighting the driving role of finance, introducing the fresh water of targeted poverty alleviation

China Orient has given full play to its advantages as a financial group, coordinated resources, and provided Shaoyang County targeted, effective poverty alleviation through financial aid.

(I) Advancing the Youth Startup Support Fund Project. The 'Love of China, Beauty of Insurance: China Insurance Helps Shaoyang Youths in Startup', a youth startup project for poverty alleviation jointly established by China Insurance, a subsidiary of China Orient, and the Youth Development Department of the Central Committee of the Communist Youth League of China, has been implemented for three years. The project encourages the youths to start their businesses back home and gives them support, helps training more than 160 young wealth leaders. In 2018, 10 projects enabled 59 poor households out of poverty, with an increase of per capita income by 7,580.7 yuan. In 2019, China Orient provided startup assistance funds to ten innovative enterprises including Shaoyang Xinlian E-commerce Company in the form of innovation and entrepreneurship contest. In 2020, China Orient continued to support 10 youth startups and lifted a number of poor households out of poverty.

(II) Establishing the 'Village Collective Industry Development Fund. Highlighting innovation is another highlight of China Orient's poverty alleviation through financial aid. A total of 8 million yuan has been invested in Shaoyang County to establish the Village Collective Industry Development Fund. A total of 29 poor villages distributed in 15 towns have been selected in the whole county. Key support is provided to the industries with a good promise of growth and good results of poverty alleviation. A support fund is granted to each village for developing their collective industries and increasing their collective income.

(III) Providing insurance to improve villagers' resistance against risks. China Orient has joined hands with its subsidiary China Insurance to donate the casualty insurance and casualty medical insurance worth 15.34 million yuan to a total of 767 registered poor populations in Wuhuang and Shuangxing Villages, as pairing partners. Additionally, China Insurance has also provided poverty insurance for the local who have not got rid of poverty or are at the risk of returning to poverty, donated casualty insurance for small-amount loan borrowers to poor people there, offered the 'crayfish weather index insurance' to the aquaculture industry, and helped the government establish an early poverty warning mechanism.

(IV) Taking multiple measures to vigorously implement poverty alleviation through consumption. China Orient has promoted agricultural products of Shaoyang County to be sold in government offices, canteens and supermarkets. In 2019, China Orient and its subsidiaries purchased from Shaoyang County the agricultural products worth 1.82 million yuan and helped introduce and sell the agricultural products worth 1.61 million yuan. Up to now, cadres and employees of the organizations under China Orient have purchased the agricultural products worth 4.662 million yuan.

China Orient is also trying all efforts to provide various types of financial services for Shaoyang County. For instance, the Group has assisted Shaoyang County in studying and analyzing the current situation of hidden government debts; helped the county establish a government financing guarantee company; assisted Shaoyang County in promoting the launching of leading enterprises into the market and improved corporate governance and system building.

IV. Making up for the deficiency, consolidating the effect of targeted poverty alleviation

General Secretary Xi Jinping pointed out, 'To win a decisive victory against poverty alleviation, we must strengthen the fundamental work of grassroots organizations. To promote Party building and poverty alleviation is a piece of valuable experience for poverty alleviation.' For such purpose, China Orient has formulated its goal, i.e. training a work team that never changes its style for the local.

(I) Adhering to the principle of poverty alleviation through Party building. In recent years, China Orient has successively allocated 800,000 yuan of Party member dues to help Shaoyang County strengthen the building of grass-roots Party organizations. In combination with the theme education titled 'adhering to initial aspirations, keeping the mission in mind', the Group has offered trainings to grass-roots cadres, organized the campaign of 'Winter of Party Building' in the spare time of winter, brought the role of grassroots Party branches in fight into play, strengthened the leading role of Party members and led poor households out of poverty. The Group has raised aspirations and regulated chaos, thus making villages take on a new look of civilization.

(II) Strengthening training of grassroots Party organization cadres. Dongxing Securities, a subsidiary of China Orient, has invested 3 million yuan in establishing the 'Xingyuan Huimin' Poverty Alleviation Training and Education Fund. For three consecutive years, Dongxing has offered training to grassroots Party organization cadres in areas including Shaoyang County. The training relates to the interpretation of rural and agricultural policies, industry development, finance, tourism, e-commerce, health and epidemic prevention, as well as other knowledge and skills.

(III) Attaching importance to education, ensuring stable poverty alleviation. Poverty alleviation through education is an important means to eradicate poverty and stabilize the result of poverty alleviation. With the aid of China Orient, the Orient Hope Primary School has been established in Hebo County, with 300 students at school. In 2019, the Shaoyang County Education Fund donated 500,000 yuan to support 720 poor students in completing their studies; and contributed 4 million yuan to participate in the building of the new campus of Shaoyang Special Education School. Each year, China Orient donates school supplies, computers, school uniforms as well as cultural and sports supplies to its paring schools, aiming to help improve their school-running resources. The student aid plan is implemented to issue grants to registered poor households in designated pairing villages each year. The 'Dream in China Orient' grant has been established in Yuantou Joint School in Hebo Township to support the students that have a poor family background and are excellent in both morality and study.

(IV) Strengthening the building of infrastructure for people's livelihood. The 'Spring Breeze Action' has been taken to send warmth to people in need. Road hardening and lighting projects have been advanced, with a total investment of 1.6 million yuan. China Orient has helped hardened the roads having a total mileage of 4.8km for Shuangxing and Wuhuang Villages, and installed more than 400 solar street lights, thus improving local traffic conditions. The Group has invested 800,000 yuan in digging livelihood wells for the villages, solving the problem of access to domestic water by nearly one thousand villagers. It has also facilitated the building of a service platform, helped build Party building offices, village affairs offices, health and accounting rooms, archive rooms, Party and mass activity rooms, convenience service halls and villagers' activity plazas, etc. 

In summary, over these years, the Party Committee of China Orient has always focused on solving the problem of 'two no worries and three guarantees' with a high sense of mission and a sense of urgency. It has put its utmost effort, taken targeted measures, made all its efforts, focused on poverty alleviation through industry, highlighted development through financial aid, and enhanced infrastructure building. A series of poverty alleviation actions regarding industry, finance, Party building, health, education, employment, safe access to water, rebuilding of dilapidated houses, road hardening, guarantee of people's livelihood and other poverty alleviation actions have been taken to lift Shaoyang people out of poverty and build a well-off society. In February 2020, Shaoyang County successfully achieved the goal of shaking off poverty.

General Secretary Xi Jinping emphasized, 'Shaking off poverty is not an ending point but a starting point for new life and new struggle.' In the next step, China Orient will conscientiously implement the decisions and arrangements made by the CPC Central Committee, continue to help Shaoyang County develop the effective linkage between complete poverty alleviation and rural vitalization, implement tough tasks with hard measures, and solve new problems with new measures. It will continue to make efforts and accurately implement policies, promote industries, talents, cultures, ecology and organizations towards full revitalization in multiple directions, with multiple measures and through multiple channels, and help people of Shaoyang work hard and write a new chapter for a beautiful life in the new era.

Source: Financial Times

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