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Urbanization drive seen as key driver

China's urbanization drive will boost domestic consumption and investment in the future, analysts said. The country aims to add 100 million urban residents during 2016 to 2020, while enabling 100 million rural residents to live in towns and cities in central and western regions. Population concentration, together with improvement in livelihoods, will expand demand in consumer services, said Chi Fulin, director of the China Institute for Reform and Development. It is estimated that if migrant workers spend as much as urban residents, the country's consumption will swell by over 1 trillion yuan ($144 billion).