Next Big Future took some key notes from McKinsey’s View of China’s Future Urbanization: Chinese Cities in 2025 and 2030.
Below are some interesting key facts concerning the urbanization of this giant country:
China is leading the global urbanization trend of developing countries and in 2025-2030 one in five of the global city dwellers will be in Chinese cities
* Based on current trends, China in 2025 will have 221 cities with more than one million people compared to Europe with 35. 25 of China’s cities will have more than 5 million people
* China’s cities in 2025 will generate about 95% of its GDP (versus 75% today)
* Of the 350 million people added to chinese cities by 2025 (about the population of the USA) 240 millinon will be migrants
* More concentrated higher density cities will have higher per capita GDP and require less infrastructure
* China has relaxed the Hokou system of household registration which restricted movement and migration within China