Urban boost to demand by US$4.5t
Source: Xinhua |
November 15, 2010, Monday
|
Print Edition
Print Edition
CHINA'S urbanization would boost domestic demand by 30 trillion yuan (US$4.5 trillion) by 2030, an official from a top think tank has said.
The country's urbanization expansion promises a huge potential in domestic demand, which will assure a stable economic development for China even if exports decline, Han Jun, vice director at the State Council's Development Research Center, said on Saturday at a forum, adding that the urban migrants' demand for housing is likely to become the largest driving force for China's economic growth in the future.
Additionally, Han said the core issue in China's urbanization is to allow farmers-turned-migrant workers to become permanent urban residents.
In the 12th Five-Year Plan for China's economic and social development, authorities stressed accelerating urbanization would be important during the period through 2015.
Data from the center indicate China's urbanization rate hit 46 percent by the end of 2009, and will reach 63.6 percent by 2030, with an urban population of 930 million.
The country's urbanization expansion promises a huge potential in domestic demand, which will assure a stable economic development for China even if exports decline, Han Jun, vice director at the State Council's Development Research Center, said on Saturday at a forum, adding that the urban migrants' demand for housing is likely to become the largest driving force for China's economic growth in the future.
Additionally, Han said the core issue in China's urbanization is to allow farmers-turned-migrant workers to become permanent urban residents.
In the 12th Five-Year Plan for China's economic and social development, authorities stressed accelerating urbanization would be important during the period through 2015.
Data from the center indicate China's urbanization rate hit 46 percent by the end of 2009, and will reach 63.6 percent by 2030, with an urban population of 930 million.
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