Coordinated, integrated strategies key in metropolitan areas

Gu Qiang, head of the Industry Research Institute under China Fortune Land Development Co Ltd, speaks at a panel discussion in Boao, Hainan province on March 27, 2019. [Photo provided to chinadaily.com.cn]

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.