China, UK Accelerate Efforts to Build ‘Smart Cities’; MOU Signed by Two Countries
Jenia Cane | | Mar 25, 2016 09:46 PM EDT |
(Photo : (Photo by Oli Scarff - WPA Pool/Getty Images))
The China-UK partnership to build smart cities is gaining momentum after a Memorandum of Understanding (MOU) was recently signed between China and UK's Future Cities Catapult (FCC), one of the country's leading platforms for urban innovation.
"Hopefully the signing is going to be a fruitful cooperation between China and UK on smart city," explained Ivory Wells, global partnerships manager at FCC, reported the China Daily.
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"We will use the partnership to make it easier for both British and Chinese enterprises to invest in and get involved in the smart city market in their respective country," he added.
The MOU was forged between FCC and the China Center for Urban Development during the China Smart City Innovation Conference held last Thursday.
China and UK's push to establish smart cities began after the signing of a partnership between Bristol and Guangzou two years ago. This was followed by the formalization of a similar agreement between Manchester and Wuhan.
According to John Davies, of UK Trade and Investment, these partnerships are in line with the UK's efforts to share its expertise and experiences in establishing smart cities with China.
"The UK has been involved in smart city for many years," said Davies. "I think one of the differences that occurred in the last few years is that city and citizens are put at the front and center, and businesses are now responding rather than trying to drive the board."
Li Tie, director of China Center for Urban Development, shares Davies' opinion.
"One of the significant changes in building new smart city in China is that the old government-driven development model should be changed into user-oriented and market-driven one," said Li.
Analysts believe that the market for smart cities in China is huge.
Recently, Chinese authorities have come out with guidelines that set the country's strategic direction for building of smart cities, which includes an intelligent transportation system.
The total investment for the China-UK collaboration to set up smart cities is projected to reach 2 trillion yuan ($309 billion) by 2025.
Tagschina, UK, Smart Cities
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