Even under the implementation of China's 4 trillion yuan stimulus plan and vigorous development of infrastructure in 2008, China's infrastructure construction is still not saturated, but insufficient, "said Lin Yifu, Honorary Dean of the National Development Research Institute at Peking University and former Senior Vice President of the World Bank, at the 2013 Boao Forum.

The following are relevant transcripts:

Lin Yifu: I think this is very important. I think arguments are very important. Through the process of debate, everyone can gather their ideas to enhance their understanding of the essence of phenomena. Personally, I strongly agree that there should be debate, as debate is always much better than public opinion. Since 2008, due to the international financial crisis, China has launched a fiscal policy of 4 trillion yuan, which has built a lot of infrastructure such as highways. Is China's infrastructure surplus? I think the infrastructure between cities has indeed improved a lot. For example, China's land area is similar to that of the United States, with 95000 kilometers of highways in the United States and over 90000 kilometers of highways in mainland China. Prior to the first fiscal policy in 1998, Zhu Rongji first emphasized economic and fiscal policies, including the construction of railways and highways. In 1998, the total mileage of highways in mainland China was 4700 kilometers, which was greatly improved at that time.

Lin Yifu: Is China's infrastructure already saturated? This question is very simple. Please take the subway to Beijing, Shanghai, and Guangzhou to find out whether China's infrastructure is insufficient or surplus, or whether driving to these major cities, as you all know, China's infrastructure is surplus or insufficient. I believe there is still a lot of room for improvement, but why should I emphasize investment in China's future? I believe that consumption is important, but it cannot be used as a driving force for China's future development, because we know that the foundation of China's economic development is the continuous improvement of labor productivity, which must rely on continuous technological innovation in existing industries.