Urbanization a Reason to Long China
Mar 02-2021
So long as urbanization maintains its momentum, opportunities will abound for everyone, said Prof. Yao Yang, Dean of the NSD, in a recent interview with China Central Television (CCTV).
60% of the Chinese population live in cities now, far behind what could possibly be achieved. The rural labor force only accounts for 25% of the total, meaning that the urbanization rate should be up to 75%. Therefore, it’s imperative to quicken the step of urbanization, said Prof. Yao.
The 14th Five-Year Plan terms the new stage of urbanization ‘regional urbanization’, in which people move from third- and fourth-tiered cities to live and work in larger ones and cities of different sizes form regional urban networks. Using the number of urban dwellers as a yardstick, the urbanization rate will reach 75-80% by 2035, he added.
Yet it would be a fallacy to grow the megacities even bigger. For example, when considering cities in the Yangtze River Delta Area, people can cast their eyes on medium-size cities instead of Shanghai, Hangzhou, and Nanjing. Shanghai’s suburban counties can be designated as independent cities and thereby take on an allure of their own.
Urbanization is estimated to have contributed 14% of China’s economic growth over the last two to three decades. The agglomeration effect will continue to generate a sustained and powerful driving force for further development.
In mid- and western regions, more and more young people might choose to stay put thanks to booming local industries. The gap between the eastern and western regions has been narrowing as industries move westward.
Amid accelerating urbanization, governments should coordinate to improve public services to facilitate transport and migration. Prof. Yao showed his confidence in each city’s capability in forming and developing its competitive industries.
Not longing China will lead to the loss of many opportunities because in the next 10-20 years this is where most opportunities will surge up, said Prof. Yao.
