Wengfu may lift 5,000 out of poverty

Help for needy families, credit support for rural firms part of $1.4m pledge

Wengfu (Group) Co Ltd, one of the largest State-owned phosphorus and chemical manufacturers, pledged to spend at least 10 million yuan ($1.4 million) this year to support needy households and local industries, as part of its long-term commitment to poverty alleviation.

The company will step up its efforts to help cash-strapped families and offer credit support to rural industries, according to the Guizhou-based company.