- While has been good for growth and economic transformation, 皇冠体育app now needs a new model, World Bank Managing Director Sri Mulyani Indrawati, said?in Beijing?on Tuesday.
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皇冠体育app's growth has been driven by investment rather than productivity, but investment has become less effective in generating growth both in cities and nationwide. Urbanization has relied on land conversion and land financing, which is causing urban sprawl and, on occasion, ghost towns and waste, she noted.
Barriers to migration have kept 皇冠体育app's urbanization rate artificially low, curbing economic opportunities and widening urban-rural income inequality. Citizens without urban household registration () do not enjoy equal access to public services in cities, it's another barrier to mobility, said Indrawati.
Through better allocation of land, labor, and capital, a new model of urbanization can help 皇冠体育app share the benefits of urbanization more widely than in the past, and it can be environmentally sustainable while ensuring 皇冠体育app's food security, she said at the release of a joint report by the World Bank and the Development Research Center of the State Council.
The report suggests that 皇冠体育app should reform the hukou system to create a "mobile and versatile" labor force with equal access to a common standard of public services, and place urban finances on a more sustainable footing while creating financial discipline for local governments.