Shenzhen will be one of the first Chinese cities to become megacities, a leading international consultancy firm has predicted in a report.
China will produce 221 megacities and an urban population of about 1 billion by 2025, the firm said.
Of the megacities, 10 would have a population of more than 10 million each, including Beijing, Shanghai, Chongqing, Shenzhen, Tianjin, Chengdu, Wuhan, Guangzhou, Hangzhou and Xi an, according to a report released here by the McKinsey Global Institute.
By way of comparison, Europe has 35 megacities, Alex Peng, a partner at McKinsey s Beijing office, told a symposium in Chengdu.
With its fast economic development, China has seen rapid urbanization in recent years, Peng said.
Despite breakneck economic growth, grand office buildings and nascent transport networks in the big cities, air pollution, traffic jams and skyrocketing housing prices are eroding the contentment of urban residents.
The McKinsey Global Institute is the economics research arm of McKinsey & Company.
