Coordinated, integrated strategies key in metropolitan areas
Integrated overall planning, clear functions for provincial and municipal governments and sufficient supportive mechanisms are key to building metropolitan areas in China, according to experts and researchers speaking at the ongoing Boao Forum for Asia.
China's regional development has entered into the era of metropolitan areas, and this assessment has been reinforced by this year's Government Work Report. The coordinated development of the Beijing-Tianjin-Hebei region, the integration of the Yangtze River Delta area and the construction of the Guangdong-Hong Kong-Macao Greater Bay Area are becoming key poles of economic growth.
According to Gu Qiang, head of the Industry Research Institute under China Fortune Land Development Co Ltd, urban microcenters in China are key components of metropolitan areas and require further development in public transportation and social service facilities.
The industrial project by CFLD at Gu'an city in North China's Hebei province has benefited from the industrial radiation of Beijing. The company has launched 15 new industrial projects at outskirts regions of metropolitan areas such as Beijing and Shanghai, and raised the value of outskirts cities as well.
"New financing channels and innovative financing methods such as PPP mode, asset securitization and finance leasing may contribute to the building of metropolitan areas," Gu said, adding the introduction of social capital in infrastructure construction, public services and building of new cities can reduce the risk of government debt and improve the urbanization of outskirts areas.
"Coordination and integration between cities remain the key words of developing metropolitan areas," said Zhang Yansheng, chief research fellow at the China Center for International Economic Exchanges. Shenzhen, the most innovative region in the Greater Bay Area, may join hands with Hong Kong, which boasts top universities, capital markets and a modern service industry. Zhang suggested Guangzhou, as a city of trade and service, could also coordinate with Foshan, which boasts a high-quality traditional manufacturing industry.
Xu Xianping, professor of the Guanghua School of Management at Peking University, said the government has done a great job integrating infrastructure facilities. "From high-speed rail to railways, we've seen tremendous improvements every year," Xu said, stressing the equalization of public services remains another key component in pushing forward the integration of metropolitan areas.
Li Xunlei, chief economist and head of the Research Institute at Zhongtai Securities, said the free flow of people could break regional barriers and restrictions of administrative mechanisms, adding regional economic development strategies should be adjusted to promote the development of metropolitan areas.
Jia Kang, chief economist at the Chinese Academy of Fiscal Sciences, suggested cities develop their own features to trigger their potential. "For example, Beijing should reinforce its advantages in culture and scientific innovation, while Shanghai should fully use of its economic and shipping advantages," he added.
