CNBM - March 2014
CNBM will be welcoming China’s new 2014-20 Urbanisation Plan, announced last week. According to Reuters, the plan aims to boost domestic consumption by increasing the proportion of urban residents to 60 per cent by 2020. To help achieve this, the Chinese government has revealed plans to invest more than US$163bn redeveloping the country’s shantytowns.
It has also promised a major expansion of its transport networks and urban infrastructure to increase migration from rural to urban areas, creating huge demand for social housing and driving investment in public infrastructure. China is also reportedly looking to increase the number of small- to medium-sized cities to help boost the country’s less-developed regions. “The amount of power and water-saving products, recycled goods and green construction will be raised substantially, ” according to the plan.