Book on China Megatrends: 13 Mega Cities, 4 Mega Regions, and 6 Mega corridors by 2025
China is set to become the largest economy in the world by 2025 with a nominal GDP value of US$38 trillion. Fuelled by a strong urbanisation rate, a favourable corporate environment, huge infrastructure investment and the largest working age population, the Chinese economy will finally transform itself from being the manufacturing site of the globe to one of the biggest and largest consumer markets in the entire world.
New analysis from Frost & Sullivan, Mega Trends in China: Macro to Micro Implications of Mega Trends to 2025, has identified over 10 key Mega Trends that will accelerate China’s nominal GDP growth rate to around 16 per cent by 2020.
Urbanisation will bring about spatial changes to the country, resulting in the emergence of 13 Mega-cities, 4 Mega-regions, and 6 Mega-corridors in 2025. The Mega Cities will grow to become the major hubs for commercial and business activity, contributing nearly US$6.24 trillion to China’s GDP in 2025.
“By 2025, an estimated 921 million people or 65.4 per cent of China’s population, will live in cities, which is about 2.6 times of the United States’ total population”, says Archana Amarnath, Programme Manager, Visionary Innovation Research Group, Frost & Sullivan.
She also added that the growth in Chinese mega cities will supplement Asia’s growing role as the world’s financial centre. In fact, by 2020, Hong Kong and Shanghai are expected to occupy two places in top five global financial centres. – PRNewswire