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China’s smart supercities powered by 5G to become new growth engine

by Ace Damon
China’s smart supercities powered by 5G to become new growth engine

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The next phase of growth in China may come from the development of smart supercities through 5G connectivity, smart grids, renewable energy and modern transportation, according to a report by Morgan Stanley.

He expects the country's urbanization rate to rise from the current 60 percent to 75 percent by 2030, attracting 220 million new residents.

Morgan Stanley defines intelligent technology supercities as regional clusters of giant hubs surrounded by large satellite cities.

"In our opinion, China is poised to be a global leader in the development of cities and towns," said Robin Xing, chief economist at Morgan Stanley in China.

By 2030, China's five largest cities could have populations averaging 120 million, or about 15 times larger than New York. Why urbanization offers a new cog for economic growth: https://t.co/av4rCD5MEb

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– Morgan Stanley (@MorganStanley) December 5, 2019

In the long run, these smart urbanization trends will help sustain productivity growth and mitigate the structural wind of growth in an aging population, he said.

According to the report, China has shifted its focus from urbanization strategy over the past two years to mainly develop five clusters of cities in advanced regions, including the Yangtze River Delta, Jing-Jin-Ji Area, Great Bay Area, Yangtze River, and the Chengdu-Chongqing area.

The average population of the top five cities is estimated to reach 120 million by 2030, each close to the size of Japan's entire population.

The report envisioned future life in a potentially intelligent super-city such as high-speed rail commuting and automated vehicles on smart grids, automated homes with IoT devices running on a state-of-the-art 5G network. generation as well as better healthcare with artificial intelligence and big data.

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This rapid development will drive demand for telecommunications and utilities, spur investment in areas such as public cloud, 5G infrastructure and IoT devices.

"In the long run, the features of more advanced smart cities, such as driverless cars, auto-delivery drones, and fully interconnected, automated appliances must take productivity to the next level," said Shawn Kim, head of Morgan's technology research team. Stanley in Asia. .

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The research suggested that China's transition to technology-driven supercities would create countless global investment opportunities. Smart cities will emerge as a pilot project for telecom operators to monetize investments in 5G, Morgan Stanley said.

For more stories on economics and finance, visit RT's business section.

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