Chinese President Xi Jinping declared victory in an eight-year drive to eradicate extreme poverty in the world’s most populous nation, a key goal of the ruling Communist Party.

“We have achieved in a timely manner the poverty alleviation goal of the new era,” Xi said at a meeting on Thursday of the seven-member Politburo Standing Committee, China’s supreme decision-making body, according to the official Xinhua News Agency. He added that the incomes of nearly 100-million people had moved above China’s official poverty line — defined as those who earn less than 11 yuan ($1.68) per day — during that period...

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