Chinese Cities’ Expansion Plans Could House 3.4 Billion People
- 3,500 new areas being considered by small cities dwarf demand
- State media criticizes effort that could feed housing glut
Residential buildings stand under construction in Jining, China on Monday, May 30, 2016. Shandong got a boost in the past from its proximity to Japan and South Korea, the source of much of its early investment. Now, it's trying to maintain the high growth rate needed to make the same leap they did: from middle- to high-income status.
Photographer: Qilai Shen/BloombergNew areas planned by China’s small cities could accommodate 3.4 billion people by 2030 -- or almost half the world’s current population -- a target that even Chinese state media calls problematic.
A report by the National Development & Reform Commission, China’s central planning agency, found that small- and medium-sized cities were planning more than 3,500 new areas that could accommodate more than twice the country’s current population of 1.4 billion. The entire world has a population of 7.4 billion, according to U.S. Census estimates.