China Is Investing In Smart Supercities That Will Be Powered By 5G
The next phase of growth in China could come from developing smart supercities through 5G connectivity, smart grids, renewable energy and modern transportation, according to a report by Morgan Stanley.
The report mentions that the urbanization ratio of the country is set to rise from 60% to 75% in the coming decade. The country is expected to have about 220 million new city residents. According to Morgan Stanley, smart tech supercities are defined as regional hubs surrounded by satellite cities. Robin Xing, Morgan Stanley’s Chief China Economist, mentioned that China is all geared up to become a global leader in smart city development.
The country has invested a lot in developing supercities that are connected, clean, and most importantly safe. Each of these cities are about 15 times the size of New York. They believe that smart urbanization will increase productivity, leading to the ultimate goal.
The focus is on the five-city clusters in the region of the Greater Bay Area, Mid-Yangtze River Area, Yangtze River Delta, Jing-Jin-Ji Area, and the Chengdu-Chongqing Area. The smart supercity will have automated vehicles on smart grids, high-speed rail, IoT appliances, and smart homes – all running on 5G networks.
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