(Yicai Global) March 12 -- Beijing plans to provide financial assistance worth CNY5 billion (USD800 million) to Tibet, Xinjiang and other impoverished regions in a bid to alleviate poverty in some of the country's poorest regions.

At least 80 percent of the funds will go toward poverty relief, state-backed China News Service reported, quoting the Beijing City Leading Group Office of Counterpart Support and Economic Cooperation.

Beijing's counterpart support areas are concentrated in areas with special difficulties or policies, said Ma Xinming, office director. Areas of extreme poverty, such as Hotan in Xinjiang, Lhasa in Tibet and Yushu in Qinghai, are the key focus of alleviation efforts, he added.

The city put up CNY5.7 billion for Tibet, Xinjiang and Qinghai last year, implementing 877 assistance projects and lifting 466,500 people from poverty.

Beijing currently offers counterpart support and coordination in areas spanning 89 county-level regions in seven mainland provinces, and offers regional and counterpart cooperation in 13 provinces and cities.