BEIJING, 10th June, 2025 (WAM) - 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.
According to a report by China Central Television (CCTV), Xiao stated, “China has achieved historic progress in enhancing the well-being of its citizens in the new era. In a complete victory over poverty, nearly 100 million rural residents have been lifted out of poverty. Additionally, China has established 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.”
"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 US$5,752), with the relative gap between urban and rural incomes continuously narrowing. The Engel's coefficient has been kept under 30% 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% is generally considered by the United Nations to indicate a wealthy life.