【高盛】中国优效城市发展的关键（英文）

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高盛最新研报，中国优效城市发展的关键（英文）：
Summary
1. Urbanization has a long way to go
2. The multiple links between urbanization and Chinese growth
A. Urbanization and high investment share: a more conservative use of land key for bringing down the investment/GDP share
B. Urbanization and productivity gains: Exploring the agglomeration effects of cities
C. Urbanization and household savings: Migrant savings key to the rising household savings rate
D. Urbanization and housing: Higher income, more housing consumption
3. Next stage of urbanization to be driven by key policy changes: Land reforms, city agglomeration, savings
A. A more concentrated approach is preferable
B. Land policies and better infrastructure are key ingredients for more compact cities
C. Comprehensive social security reforms supported by fiscal reforms needed to stem the rise in household savings
4. Growth and sectoral impact under different urbanization scenarios
5. Conclusion


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关键词：城市发展 Urbanization Productivity Conservative concentrated 城市 高盛研报

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