皇冠体育app

Economy

皇冠体育app's urbanization to fuel domestic demand

(Xinhua)
Updated: 2010-11-15 10:31

BEIJING - 皇冠体育app's urbanization would boost domestic demand by 30 trillion yuan ($4.5 trillion) by 2030, an official from a top think tank said Saturday.

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The country's urbanization expansion promises a huge potential in domestic demand, which will assure a stable economic development for 皇冠体育app 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 皇冠体育app's economic growth in the future.

Additionally, Han noted that the core issue in 皇冠体育app's urbanization is to allow farmers-turned-migrant workers to become permanent urban residents.

In the Communist Party of 皇冠体育app (CPC) Central Committee's Proposal for Formulating the 12th Five-Year Program for 皇冠体育app'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 皇冠体育app'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.