BEIJING (Reuters) – China’s new type of urbanisation is beneficial to boost consumption and investment, Zheng Bei, a vice head of the country’s state planner, said on Friday in Beijing.
She estimated that every one percentage point rise in the urbanisation rate can generate more than 200 billion yuan ($27.72 billion) consumption demand each year and can drive up demand for new investment involving at least 1 trillion yuan.
($1 = 7.2158 Chinese yuan renminbi)
(Reporting by Ellen Zhang and Ryan Woo; Editing by Muralikumar Anantharaman)
