23 August 2019

WB sees big savings if China tweaks urban planning, FT says

The World Bank said China could save US$1.4 trillion in infrastructure spending over the next 15 years by increasing the population density of its cities, the Financial Times reported Tuesday. The bank’s managing director Sri Mulyani Indrawati was quoted as saying that current trends suggest that China’s cities would spend US$5.3 trillion on infrastructure over the next decade and a half but could save roughly a quarter of that by using a series of market reforms that would decrease urban sprawl. At an urbanization conference in Beijing Tuesday, officials said China’s city planners should focus on increasing the density of newer areas of cities by reforming the way land is taxed and sold, and by reducing artificial barriers to migration, the report said. 

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