China on Wednesday announced favorable measures to develop tourism for rural areas in poverty.

The move is part of the country's strategy to eradicate poverty by 2020 through the use of targeted and precise relief measures.

The National Tourism Administration signed agreements with the Agricultural Development Bank of China and the China Citic Bank to provide financial credit for impoverished counties to build tourist attractions.

In the 2016-2020 period, poor counties with scenic areas will have updated infrastructure and public service facilities with the help of the banks.

China Citic Bank will lend 200 billion yuan (29.4 billion U.S. dollars) to fund key projects featuring construction of distinctive scenic attractions for rural areas in poverty.

China beat its annual target by lifting 12.4 million people out of poverty in 2016, the State Council Leading Group Office of Poverty Alleviation and Development said Tuesday.

"The progress was partly due to large financial resources, amounting to more than 230 billion yuan, earmarked by the central and local budgets," said Su Guoxia, spokesperson with the agency.