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China is willing to strengthen its strategic coordination with South Africa and promote bilateral cooperation in various fields, Hao said.

China will accelerate the opening of industrial and supply chains with weak links, encourage investment to better meet the needs of domestic consumption upgrade and support firms to invest in the central, western and northeastern regions, said Pang Chaoran, a researcher with the CAITEC.

China released a plan on August 20 to encourage government departments to purchase agricultural products from poverty-stricken areas as part of targeted poverty alleviation efforts.

China issued a document Monday which encourages local governments and financial institutions to use special bonds and other market-based financing methods to support key areas and major projects such as the coordinated development of the Beijing-Tianjin-Hebei region and the construction of the Yangtze River Economic Belt.

China plans to eradicate poverty by 2020. In Shanxi alone, a total of 560,000 people, including 450,000 living under the poverty line, will be relocated from barren land to more livable locations by 2020. To date, 220,000 have moved.