China has almost wiped out urban poverty. Now it must tackle inequality

Despite China's world-beating success at eradicating poverty, economic disparity persists. How will the government ensure no one is left behind?

Whether it's the currency devaluation or the stock market rout, the economic news coming out of China seems unremittingly negative - and that's not to mention the horrific explosions in Tianjin.

But here's some good news. Yet-to-be-released data shows that China has all but eradicated urban poverty. For a country with huge numbers of poor people streaming into its cities, many of whom living initially in conditions of abject misery, this is an extraordinary success. It has been achieved, in large part, because of a government subsidy paid to urban dwellers to bring incomes up to a minimum level of 4,476 yuan ($700 or 446).