One of the most notable results of China’s meteoric economic rise is the unprecedented number of people that have been lifted out of poverty in the country in the last three decades.

Experts at the 2017 China Poverty Reduction International Forum in Beijing on May 27 lauded the country’s efforts, saying it serves as a role model for other nations. To build a moderately prosperous society, China has vowed to raise incomes in all impoverished rural areas by 2020.

In 2016 alone, more than 12.4 million rural residents were able to climb above the poverty line, which was better than the central government’s target of lifting 10 million people over the threshold.

The Finance Ministry says the government will spend 140 billion yuan (over $20 billion) this year to sustain the current pace of poverty relief.