BEIJING — China has set aside more funds from its central budget to support the development of poor regions this year.

The Ministry of Finance (MOF) said on July 19 that more than 66 billion yuan (around $10 billion) has been approved for local authorities, up over 40 percent year on year.

The funds will be used to relocate rural households, help minorities, increase work relief and revive State-owned farms, said an MOF statement.

Vice-Premier Wang Yang said early this month that the government should reinforce capital and personnel support to achieve the annual target of poverty reduction.

The country aims to reduce the population in poverty by more than 10 million this year, part of an ambitious plan to completely eliminating poverty by 2020.