The draft of China's Charity Law has been submitted to the national legislature on Wednesday. The law aims to improve the lives of Chinese people who live below the poverty line.

The law, which is the first to be drafted to regulate charity activities, seeks the collaboration of those who can assist the government achieve its 2020 poverty alleviation target.

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At the end of 2015, there were around 70 million rural residents in China that lived below the poverty line, or under the 2,800 yuan ($430) standard per capita of income per year.

With the Charity Law, the vice chairperson of the National People's Congress (NPC) Standing Committee Li Jianguo said more citizens - whether ordinary individuals, enterprises or social organizations - will be motivated to go into charity activities.

"Charitable programs are indispensable for the fight against poverty. Formulating a charity law ... helps nongovernmental sources work together in taking targeted measures to alleviate and eliminate poverty and makes contributions to achieving the goal of building a moderately prosperous society in all respects," Li pointed out while presenting the bill to the NPC deputies during a recent gathering.

The draft law defines charity activities and charity organizations. It also includes a criteria of how they should be founded and registered.

Furthermore, the 12 chapters and 112 articles of China's draft Charity Law clarifies the internal management of charity organizations and their obligation towards information disclosure as well as fund-raising initiatives. It also includes policies that will promote charity donations.

TagsChina Charity Law, china, China poverty, china poverty alleviation