Urbanization to exceed 70% by 2030

China will accelerate the pace of its urbanization in the next 20 years, with the urban population to reach 70 to 75 percent by the end of 2030, according to a recent report from the Chinese Academy of Social Sciences (CASS).

The report also said that the recent labor shortage in eastern coastal areas, which many analysts have said shows the increasing unwillingness of rural people to move to urban areas because of the surging cost of living, will not hamper the country’s urbanization process in the long run.

“Urbanization is at the center of China’s reform and development, for it will be one of the most important driving forces of the country’s economic growth in the next decades,” said Li Yang, a researcher from CASS.

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