China releases 2014-2020 urbanization plan

China will build more social housing and expand urban transport networks to get more people moving to cities, Reuters reported, citing a new urbanization plan for 2014-2020 released on Sunday. The plan aims to increase the proportion of urban residents in China from 53.7% to 60% by 2020. China will also consider reforming the country’s “hukou” registration system, which is impeding rural migrants from obtaining residency status, and promote environmentally friendly development. The “greatest potential for expanding domestic demand” rests in urbanization, state news agency Xinhua said, as people in Chinese cities earn and spend more than their rural counterparts.