Millions of apartments to be built
Print Edition
China鈥檚 State Council has announced plans to build 18 million apartments in urban areas and renovate dilapidated houses for 10.6 million households.
The plans also include infrastructure for transport, communications, water, natural gas and heating, according to a meeting earlier this week chaired by Premier Li Keqiang.
Governments should channel more money into renovation projects and attract private investment to support the projects, the meeting decided.
Given the economic downturn in the world鈥檚 second largest economy, policy-makers hope that urbanization will help revive sluggish investment, stimulate domestic demand and provide sustainable impetus to economic growth.
Li Shantong, of the State Council鈥檚 Development Research Center said there was a huge and growing demand for infrastructure during urbanization, which will 鈥渃ontinue to drive economic growth in the period of the 13th Five-Year Plan (2016-2020).鈥
There were 749.16 million urban inhabitants by the end of 2014, making up 54.77 percent of the total population.
The ratio, up from 26.41 percent in 1990, was still markedly lower than in developed countries, indicating much room for improvement.
Liu Hongyu, vice president of Tsinghua University鈥檚 School of Civil Engineering, believes China鈥檚 urbanization is still on a fast track and expects the permanent resident population of cities to grow by 15 million each year from now to 2030.
In addition, the renovation program aims to improve people鈥檚 livelihoods.
鈥淭his work concerns millions of impoverished families, thus, requires bolder steps,鈥 the State Council said after the meeting.
Chen Zhenggao, minister of housing and urban-rural development, has ordered swift and extensive renovation of buildings that are safety hazards, after a number of recent building collapses.
Local governments have been urged to prioritize dangerous buildings in the renovation scheme and provide financial aid.
Building collapses in southwest China鈥檚 Guizhou Province and north China鈥檚 Tianjin recently have killed dozens of people.
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