China’s planned urbanisation drive will be the main engine of growth for domestic economic activity in the years ahead, giving the government scope to boost domestic demand and infrastructure investment, a senior planning official said on Wednesday.
China plans to spend 40 trillion yuan (HK$49.3 trillion) to bring 400 million people to cities over the next decade as the government tries to turn the country into a wealthy world power with economic growth generated by an affluent consumer class.
via Business feed http://www.scmp.com/business/economy/article/1182712/chinas-planners-push-urbanisation-main-growth-driver
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