The urbanization rate in China soared from 29.4% in 1996 to 52.6% in 2012 following an upsurge in the construction of development zones, new urban districts and international metropolises.

China's urbanization is one of the two major events that will affect the development of human society in the 21st century, according to Joseph Stiglitz, the acclaimed American Nobel prize-winning economist, the other being the next round of the US-led new technological revolution.

Urbanization, an inexorable trend of economic and social development, can act as a benchmark to gauge the...