China's urbanisation rate to hit 60 per cent by 2018: Report
SHANGHAI (REUTERS) - China's urbanisation rate is expected to hit 60 per cent by 2018, according to a prominent government think tank report, two years ahead of previous official expectations, bringing a potential economic boost to the world's second largest economy.
China's urban population has boomed over the last three decades, with over half of all Chinese living in cities for the first time in 2012.
Around 54 per cent of the population lives in cities now, according to the Chinese Academy of Social Sciences' blue book report, the official Xinhua said on Friday.
China's leaders are pushing for a larger number of the country's near 1.4 billion population to live in cities, a drive to boost economic output and reignite growth that slowed to a 13-year low of 7.8 per cent in 2012.