The definition of Least Developed Countries (LDC) was given by the United Nations in 2015, referring to countries whose GNI per capita falls below US$1,035. 33 countries in Africa, 9 countries in Asia, 9 countries in Oceania and Haiti in the Americas are defined as LDC, while none of them are from Europe.

The poverty line in Hong Kong was first laid down in 2013 and set at 50% of median monthly household income. In 2019, the poverty line for one-person and two-person households were set at HK$4,500 and HK$10,000 respectively. According to the “Hong Kong Poverty Situation Report 2020”, the poor population in Hong Kong was at a record high that the poverty rate reached 23.6%.

As the saying goes, it would be better to teach someone to fish than to give him a fish. This was proven by three Nobel Economics Prize winners in 2019. The three scholars spent 20 years on the randomized controlled trial (RCT) to enhance people’s understanding of poverty.

Learn more from the full article (in Chinese only) written by Kenny Siu, Senior Advisor of AEC Group, published on Sing Pao on 7 February.