Guizhou Xingwei Industrial Group will set up a 1-billion-yuan special fund for public benefit projects of poverty alleviation on the platform of the China Guangcai Program Foundation, according to a deal signed by the two sides during the 3rd meeting of the 3rdCGPF Council in Xichang City of Liang Mountain Yi Autonomous Prefecture of southwest China’s Sichuan Province on August 3.

　　The meeting, attended by all of CGPF's members and supervisors, as well as United Front Work Department officials and ACFIC leaders, reviewed and approved the work report and financial report for the first half of 2017.

　　CGPF General Director Li Lu delivered a draft proposal on the organization’s innovative development, while other participating members held discussions and voiced their views on its institutional and systemic setups, platform format, funding scale and their respective contributions.

　　United Front Work Vice Minister and ACFIC CPC Secretary Xu Lejiang stressed that CGPF should zero in its strength on the decisive battle of poverty alleviation, with a particular focus on public benefit projects in the extremely poor areas, to deliver visible, real benefits to assistance recipients.

　　He noted that the organization’s biggest advantage, which lies in its great bolstering team of entrepreneurs, can’t be fully tapped without opening up the mind and brave innovation.  

　　He said that CGPF’s biggest problem lies in its stiff and inflexible management and operational mechanism which has led to inadequate and timid use of funding, project design fragmentation, and late follow-up. He called for following the market rule and put management and operation in professional hands, especially when it comes to fund value maintenance and appreciation and project supervision and implementation.