China says will continue “rapid urbanization policy” for some more time

August 8th, 2010 - 3:28 pm ICT by ANI  

Beijing, Aug 8 (ANI): China has said it would continue its policy of rapid urbanization for “some time yet,” as it is crucial for economic restructuring as well as for stable and relatively fast economic growth.

Xinhua quoted Peng Sen, deputy director of the National Development and Reform Commission as saying that: “46.6 percent of China’s population lived in urban areas by 2009. The rate was far below that of the developed nations and also lower than some developing countries with similar development levels to China.”

“Accelerating urbanization is a significant strategic step to step up economic restructuring, maintain long-term stable and relatively fast economic development, build new urban-rural relationships and promote social harmony, he added.

Urban population is expected to grow by 10 million annually by 2015 and is expected to spur over 100 billion Yuan (14.77 billion dollars) of consumption each year.

Meanwhile, the Chinese Academy of Social Sciences, a top government think tank, predicted in July that China’s urbanization rate would hit 52 percent in 2015 and grow to 65 percent in 2030.

Peng also said the country should remove the urban-rural dual system which has become an institutional barrier, holding back China from coordinating development between urban areas and rural areas, and narrowing urban-rural gap. (ANI)

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