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?"