Relocated residents earn interest on subsidies
Dividends totaling 115,000 yuan ($16,942) were paid to 41 poor households, who had entrusted their compensation to a charity on Feb 12 in Fengdong New City of Xixian New Area, Northwest China's Shaanxi province, in hopes of earning interest.
The new city adopted a city renovation model combining poverty alleviation, urban renewal, and trust last November in an attempt to reduce poverty.
The relocated poor households entrusted their subsidies to the Fengdong New City Charity Association, giving them the opportunity to earn interest on a quarterly basis. The subsidies included their compensation for demolition as well as living subsidies.
As of now, a total of 70 households have signed agreements, and 41 have already received additional dividends from the entrustment.
The new policy provides 10,000 to 40,000 yuan each year to poor families whose houses have been demolished.
A relocated resident (M) shows her contract. [Photo/xixianxinqu.gov.cn]