History-making opportunity: China’s latest urbanisation plan has implications for investors
In mid-March, the Central Committee of the Communist Party of China and the State Council released China’s 2014–2020 urbanisation plan. Critics in the foreign media have focused on the lack of detail in the plan as well as how it will be funded and implemented at the local level. Although it is right to raise such questions, the announcement itself is suitably ambitious, long overdue and a much needed impetus to better organise the burgeoning economic and demographic growth of China’s cities.
As a framework to guide more socially-responsible and ecologically-sound urban growth, the plan is as bold in its pronouncements as it is breathtaking in its objectives. The sheer magnitude of the growth that China’s cities are to fully accommodate, both with the base as it stands today in addition to the extra growth out to 2020, must surely place this as one of the most complex projects ever undertaken by humankind.
From inhabitants to residents