Urbanization bill could top $106bn

The cost of urbanizing China’s rural workers could reach US$106 billion (RMB650 billion) a year, Reuters reported, citing government think tank Chinese Academy of Social Sciences (CASS). The figure is based on the assumption that 25 million people a year settle in cities and will receive the same benefits in health care, housing and schools that city residents have, CASS said on Tuesday. Millions of rural workers moving to big cities currently lack access to services tied to the strict household registration system. China hopes that urbanization will help make domestic consumption the main driver of its economy.