Urbanization drives growth

Benefits for inner regions

Urbanization is a major tool of the government to maintain economic stability, and Premier Li Keqiang's speech marks the move to boost confidence as the economy shows hints of decline. The move can also benefit the central and western provinces and regions by better balancing economic development, as well as easing the pressure on population and resources in the eastern coastal regions.

cnstock.com, Sept 16

The core mission of the new urbanization drive is to meet the people's needs - that is clearly outlined in the 2014 Government Work Report, and several recent moves such as the reform of the household registration system and renovation of the older parts of towns all serve that purpose. Only with convenience and better conditions can small- and medium-sized cities attract people to live in them.

xinhuanet.com, Sept 17

In the coming decade or so, 100 million people who leave agriculture will move to cities, while 100 million urban residents will see their old houses renovated, and 100 million people will move into nearby towns. Everybody needs housing, and the new mode of urbanization offers opportunities for realty development.

National Business Daily, Sept 13

Farmers call working in the nearest towns "happy employment" because they can enjoy the atmosphere, as well as take care of their families when needed. Unfortunately, such happy employment remains a dream for many because smaller cities, especially in the western regions, lack the economic capacity to provide enough jobs. To promote employment, it is necessary to improve the infrastructure of small- and medium-sized cities first, and develop industries according to their conditions, so that farmers can happily work and live in them.

People's Daily, Sept 15

Local industrialization, or farmers residing in nearby cities, is good news to farmers in the central and western regions, but bad news for enterprises in eastern provinces because they will face constant difficulties in recruiting workers. The past mode that relies on the country's demographic dividend will be hard to maintain. That's also an opportunity to prompt eastern provinces to accelerate their industrial upgrading.

China Industrial Economy News, Sept 17