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Xinhua | Updated:2017-01-03 10:08BEIJING – Chinas urbanization drive will boost domestic consumption and investment in the future, analysts have said.The country aims to add 100 million urban residents during 2016 to 2020, while enabling 100 million rural residents to live in towns and cities in central and western regions.Population concentration together with improvement in livelihoods will expand demands in consumer services, said Chi Fulin, director of the China Institute for Reform and Development.It is estimated that if migrant workers spend as much as urban residents, the countrys consumption will swell by over 1 trillion yuan.Besides, every percentage of urbanization is predicted to translate into 3.7 percent investment growth. When 400 million people bid adieu to villages in the next 10 to 20 years, they will directly stimulate investment demands of 40 trillion yuan.In 2015, permanent urban residents account for 56.1 percent of the countrys population, a rate expected to be hit 60 percent by 2020.Such urbanization promises opportunities for Chinas development, said Li Yang, academician with Chinese Academy of Social Sciences.Chinas vast rural areas are huge markets for living environment improvement, garbage disposal and infrastructure upgrading, Li said.Related StoriesChina makes progress on annual urbanization goalsA dying fishing village in East ChinaChina spends big in housing renovationChinas urbanization drive to focus on integrating rural migrantsChina eyes industrial urbanization in 60 zonesPhotoFrenchman engrossed by Dongyang wood carving2016 Chaos Communication Congress holds in GermanyCentury-old Shanghai Dashijie reopens for trial runFuturistic manned robot takes first steps in South KoreaSnow sculptures and ice lanterns heat up HarbinCyclists sit back as they pedal through GuangzhouMost Viewed in 24 HoursTop 10Top 10 most valuable cities in ChinaEditors picksXiaomi releases 4G network-enabled notebookStandalone VR goggles expected to boom in ChinaChina DataInfographic: China monthly economic dataQ&A With CEOGoing fast on digital highwayStriking a chord in new headphone marketSpecial2016 Central Economic Work ConferenceMade in China 2025BACK TO THE TOPHOMECHINAWORLDBUSINESSLIFESTYLECULTURETRAVELWATCHTHISSPORTSOPINIONREGIONALFORUMNEWSPAPERChina Daily PDFChina Daily E-paperMOBILECopyright 1995 -var oTime = new Date();
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