March 8 \u2013 After more than 40 years of rapid growth, China\u2019s economy has shifted from a stage of high-speed growth to high-quality development. With the changes of the international market environment and domestic factors, China\u2019s original economic growth model is becoming more and more restricted, and it is necessary to optimize the economic structure and transform the growth drivers. What the engine of China\u2019s growth in the future is has become pivotal.<\/p>\n
Modern growth theory in economics shows that the driving force of a country\u2019s economic growth is the expansion of the labour force and material capital in the take-off stages. After the initial stage, a country\u2019s economic growth steps into an\u00a0innovation-driven economic development. Urban agglomeration is a kind\u00a0of innovation\u00a0that reconfigures\u00a0economic factors such as population, capital, industry, commodities, trade, consumption and investment at the regional, urban and rural levels.<\/p>\n
China has the biggest number of large cities and urban populations in the world. Urban agglomerations\u00a0in the current Chinese economic development pattern can give full play to the comprehensive advantages of population and developmental conurbations in the self-reliance of national science and technology as well as industrial chain and supply chain security. This will promote\u00a0China\u2019s economic efficiency and support China\u2019s\u00a0high quality development.<\/p>\n
China unveiled its\u00a0urbanization plan in 2014. Since then, its urban agglomeration development has entered the fast lane. The 13th Five-Year Plan\u00a0has proposed building 19 such conurbations .<\/p>\n
The plan issued for the construction of the Chengdu-Chongqing economic circle in 2021\u00a0points\u00a0out that the core task of urban agglomeration development is to promote\u00a0the flow of resources in an orderly and free manner, and continue to release new economic drivers in a coordinated regional development.<\/p>\n
In the just-released Chinese government\u2019s work report, China has stressed support for the Beijing-Tianjin-Hebei region, the Yangtze River Delta, the Guangdong-Hong Kong-Macao Greater Bay Area and other regions with strong economic development to better play their role as driving forces for high-quality development.<\/p>\n
In the outline of the 14th Five-Year Plan, China clearly pointed out that urban agglomerations are the main form of new-type urbanization, and are an important platform for supporting national economic growth, promoting coordinated development among regions, and participating in international competition and cooperation, focusing on promoting the construction of 19 conurbations.<\/p>\n
Currently, the 19 major urban agglomerations account for 25 percent of the country\u2019s land area, 75 percent of its population and 88 percent of its GDP. Among the 19 major conurbations, the five pillar urban agglomerations, namely the Yangtze River Delta, the Guangdong-Hong Kong-Macao Greater Bay Area, the Beijing-Tianjin-Hebei region, the middle reaches of the Yangtze River and Chengdu-Chongqing\u00a0economic circle, each have their own characteristics, with more outstanding strength and development potential.<\/p>\n\n
Lujiazui area in the China (Shanghai) Pilot Free Trade Zone in east China\u2019s Shanghai, January 10, 2023. \/Xinhua<\/p>\n
For example, \u201cintegration\u201d and \u201chigh quality\u201d are the two major characteristics for\u00a0the Yangtze River Delta urban agglomeration, while \u201ccoordinated development\u201d are the buzzwords for\u00a0the Beijing-Tianjin-Hebei region.<\/p>\n
The Guangdong-Hong Kong-Macao Greater Bay Area is more positioned as a \u201cgateway\u201d to the region with vast\u00a0openness and economic vitality in China. Cross-border connectivity and collaborative innovation under the \u201cOne Country,\u00a0Two Systems\u201d creates a new plateau for better opening-up.<\/p>\n
The urban agglomeration in the middle reaches of the Yangtze River covers the largest area in China. The Chengdu-Chongqing economic circle\u00a0has a prominent strategic position and is expected to become a national base of emerging industries and a financial center in the upper reaches of the Yangtze River.<\/p>\n
According to preliminary calculations, by 2030,\u00a0China\u2019s urbanization rate will\u00a0reach 80\u00a0percent and there will be\u00a0200 million added to the urban population.\u00a0It can be said that to seize urban agglomerations\u00a0is to seize the new driving force for\u00a0the Chinese economy.<\/p>\n
The important functions of urban agglomeration are reflected in four areas: industrial agglomeration, scientific and technological innovation, boosting\u00a0consumption and promoting opening up. In the future, China will make good use of the economic advantages of urban agglomerations in building a new development pattern\u00a0to\u00a0break market barriers and produce a \u201c1+1 greater than 2\u201d scale effect, thus creating new economic growth points\u00a0for China\u2019s high quality development.<\/p>\n