Economic Development and Sustainability: Smart Cities in China
Over the last four decades, China has experienced massive economic growth and is the second-largest economy today. Realizing that livability and sustainability were essential components to create better urban life for both employees and companies, China has embraced smart city technology. Investment in quality of life factors will support ongoing business growth as young, talented generations choose to stay in urban areas, and thereby continue economic growth.
China’s urban population is slated to grow by 350 million in the next 20 years, which brings opportunities, such as a growing tax base and new businesses. China strives to move away from dependence on coal and promote low-emission technologies. Smart technology, plus planning for optimal living conditions, which includes improving air quality, encourage investment from multinational, high-tech corporations. For example, Suzhou Industrial Park (SIP), a Chinese-Singaporean smart city project near Shanghai, has been able to attract a skilled labor force because of its amenities and work opportunities. Many firms continue to locate there, including 91 Fortune 500 companies, because of the talent pool available to grow their business.
Creating a city that is sustainable, economically vibrant, and smart is the perfect trifecta for any planner. While some see sustainability and economic growth as conflicting goals, China shows us that these goals go hand-in-hand. High-tech companies want to invest in cities that are not only technologically advanced but sustainable. As people continue to move to urban areas around the world, policymakers and planners should emulate these goals, not only for economic development but for the sustainability of our planet and the quality of life of its residents.
Citation:
Silverstein, K. (2020, March 11). China’s Economy Hinges On A Low-Carbon Life For Future Smart Cities. Forbes. Retrieved from https://www.forbes.com/sites/kensilverstein/2020/03/11/chinas-economy-hinges-on-a-low-carbon-life-for-future-smart-cities/#cda056d6d5c6
“Suzhou Industrial Park: 10 things to know about the China-Singapore project” (2014, October 25). Straits Times. Retrieved from https://www.straitstimes.com/asia/east-asia/suzhou-industrial-park-10-things-to-know-about-the-china-singapore-project
