China's Migrant Workers and the Path to Economic Growth through Urbanisation

China's Economic Growth: Focus on Migrant Workers

China's economy faces challenges regarding domestic demand and market confidence. Experts have highlighted the importance of urbanisation in addressing these issues, particularly for the nearly 300 million migrant workers lacking access to essential public services.

People-Centred Urbanisation as a Key Solution

• Chi Fulin, president of the Hainan-based China Institute for Reform and Development, argues for people-centred urbanisation as the solution to boost domestic demand.
• He emphasizes filling public service gaps can stimulate significant consumption.
• A range of policies must focus on addressing these gaps for sustainable economic growth.

Economic Confidence Amidst Global Challenges

As China navigates external pressures, including tariff threats from former President Donald Trump, increasing domestic demand is critical. Academics suggest that mobilizing vast investments in urban infrastructure could drive growth.

Deregulation: A Path to Reviving the Private Sector

Panelist Fang Ning emphasized the necessity of deregulation to rebuild confidence in the private sector. He noted the detrimental impact of excessive regulations on SMEs and stressed that relaxing these measures is essential for economic recovery.

In summary, focused investments and strategic policy shifts are crucial for enhancing the economic landscape and productivity of China's migrant workers, thereby revitalizing the nation's economy.