China's urbanization to fuel domestic demand of 30 trillion yuan by 2030, official says

11:40, November 14, 2010      

Email | Print | Subscribe | Comments | Forum 

China's urbanization would boost domestic demand by 30 trillion yuan (4.5 trillion U.S. dollars) by 2030, an official from a top think tank said Saturday.

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 with the State Council's Development Research Center (SCDRC), said 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 noted that the core issue in China's urbanization is to allow farmers-turned-migrant workers to become permanent urban residents.

In the Communist Party of China (CPC) Central Committee's Proposal for Formulating the 12th Five-Year Program for China's Economic and Social Development (2011-2015), which was issued last month, authorities stressed that accelerating urbanization would be an important mission during the next five years.

Data from the SCDRC indicates that China's urbanization rate hit 46 percent by the end of 2009, and will reach 63.6 percent by 2030, with the urban population standing at 930 million.

Source: Xinhua

(Editor:王千原雪)

  • Do you have anything to say?

双语词典
dictionary

  
Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • Chinese Navy soldiers hold an evening party marking the upcoming 62nd National Day aboard Chinese Navy hospital ship "Peace Ark" in the Pacific on Sept. 28, 2011. The Chinese National Day falls on Oct. 1. (Xinhua/Zha Chunming)
  • Photo taken on Sept. 30, 2011 shows the crowd at the plaza of Beijing Railway Station in Beijing, capital of China. The railway transportation witnessed a travel peak with the approach of the seven-day National Day holidays on Friday. (Xinhua)
  • A man wearing high-heel shoes takes part in the 3rd annual Walk a Mile in Her Shoes, an event when men literally walk in women's shoes to raise awareness about ending violence against women, at Yonge-Dundas Square in Toronto, Canada, Sept. 29, 2011. (Xinhua/Zou Zheng)
  • Photo taken on Sept. 29, 2011 shows a cargo ship in danger on the sea near Zhuhai City, south China's Guangdong Province. Cargo ship Fangzhou 6 of Qingzhou of southwest China's Guangxi Zhuang Autonomous Region lost control after water stormed into its cabin due to Typhoon Nesat on the sea near Zhuhai Thursday, leaving 12 crew members in danger. Rescuers rushed to the ship and saved them by using a helicopter. (Xinhua)
  • Actress Gong Li poses for L'Officiel Magazine. (Xinhua Photo)
  • Demonstrators from the Occupy Wall Street campaign hold placards as they march in the financial district of New York September 29, 2011. After hundreds of protesters were denied access to some areas outside the New York Stock Exchange on September 17, demonstrators set up a rag-tag camp three blocks away. Zuccotti Park is a campground festooned with placards and anti-Wall Street slogans. The group is adding complaints of excessive police force against protesters and police treatment of ethnic minorities and Muslims to its grievances list, which includes bank bailouts, foreclosures and high unemployment. (Xinhua/Reuters Photo)
Hot Forum Discussion