Funding, market key in push for urbanization

As urbanization increases in China, the role of the market and the availability of funds to pay for the changes are vital, officials and experts said.

Even as new-type urbanization has become the latest catchphrase in China, a lot of detailed and difficult work still needs to be done, said Li Tie, director-general of the China Center for Urban Development at the National Development and Reform Commission.

The issue can be distilled to two questions: "What is the prime concept in China's new-type urbanization?" and "How can this concept be carried out, given the flow of millions of farmers into cities?"