China's economic landscape is undergoing a significant transformation, shifting from rapid high-speed growth to a focus on high-quality development. This shift comes as both international market dynamics and domestic factors place new constraints on the traditional growth model, necessitating an optimization of economic structures and a transformation of growth drivers.
Modern economic growth theory highlights that in the early stages, a country's growth is fueled by the expansion of its labor force and material capital. However, as economies mature, innovation becomes the primary driver of sustained growth. In China, urban agglomerations embody this innovation-driven approach by reconfiguring key economic factors such as population, capital, industry, trade, consumption, and investment across regional, urban, and rural levels.
Boasting the largest number of large cities and urban populations globally, China's urban agglomerations play a crucial role in leveraging the comprehensive advantages of population density, self-reliant national science and technology, and secure industrial and supply chains. These factors collectively enhance economic efficiency and support the nation's high-quality development objectives.
Since unveiling its urbanization plan in 2014, China has accelerated the development of urban agglomerations. The 13th Five-Year Plan set the stage by proposing the establishment of 19 major conurbations. In 2021, the focus shifted to constructing the Chengdu-Chongqing economic circle, emphasizing the orderly flow of resources and the release of new economic drivers through coordinated regional development.
The recently released government work report reinforces support for key regions such as the Beijing-Tianjin-Hebei area, the Yangtze River Delta, and the Guangdong-Hong Kong-Macao Greater Bay Area. These regions are recognized as powerful engines for driving high-quality development.
Looking ahead, the 14th Five-Year Plan underscores the importance of urban agglomerations as the main form of new-type urbanization. These agglomerations are pivotal for national economic growth, fostering coordinated regional development, and enhancing participation in international competition and cooperation. Currently, the 19 major urban agglomerations account for 25% of China's land area, 75% of its population, and a staggering 88% of its GDP.
Among these, five pillar urban agglomerations stand out: the Yangtze River Delta, the Guangdong-Hong Kong-Macao Greater Bay Area, the Beijing-Tianjin-Hebei region, the middle reaches of the Yangtze River, and the Chengdu-Chongqing economic circle. Each of these agglomerations possesses unique characteristics, robust strengths, and significant development potential, positioning them as key contributors to China's ongoing economic evolution.
Reference(s):
cgtn.com
