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(2021) New Technological Revolution and Urbanisation

China's urbanization is accelerating. Over the past 40 years, China has experienced and accomplished what it took Europe and United States 100 years to achieve. China's urbanization rate has reached 50%, and will rise to 80% by 2050, entering maturity.

According to experience, when a country's urbanization rate exceeds 50%, urban development will closely match the speed of technological advances. New technology will drive industrial revolutions, and changes in leading industries will bring about the revitalization of cities. Technology will change industries and invigorate cities, propelling the urban revolution, improving innovation capacity, and injecting new impetus into urban development. Chinese cities have entered a new stage where economic activity is dominated by the service sector and emerging industries. The economic contribution of tertiary industry continues to increase, which improves urban efficiency.

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