25 August 2019

China urbanization will need 42 trn yuan by 2020, paper says

China will need about 42 trillion yuan (US$6.74 trillion) to achieve a 60 percent urbanization rate by 2020, the National Business Daily reported Friday, citing Finance Deputy Minister Wang Baoan. Wang also said a large chunk of the funds for the program will have to come from the private sector. Existing projects under the public-private partnership (PPP) model are estimated to be worth 4-5 trillion yuan, and such cooperation is expected to be a major funding source to pursue the urbanization program, the report said.

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