Hong Kong implements official benchmark on poverty
HONG KONG (AFP) - Hong Kong on Saturday announced its first benchmark to measure poverty and found almost 20 per cent of residents live in such conditions, a move hailed as a step towards tackling worsening inequality.
The poverty line, marked at half of the median household income, showed 1.31 million people in the city were living in poverty, a rate of 19.6 per cent, based on official data from 2012.
The introduction of a poverty is a significant move for a densely populated metropolis known for its sky-high rents and home to one of largest wealth gaps in the world.
"To implement the poverty line is unprecedented...It is an important step in helping the government tackle the issue of poverty," Hong Kong Chief Executive Leung Chun Ying told a summit on poverty.