Plan C: China's Development under the Scarcity of Natural Capital

The critical issue of China's modernization is whether it can free itself from the traditional modernization plan based on the relatively abundant natural capital, and innovatively create a developmental model of a large country under the scarcity of natural capital. This is why China is so keen on circular economy and economical use of resources. Focused on this issue, this paper summarizes the theoretical elements of the development under the scarcity of natural capital, points out that Plan C is the strategic choice for China's future development, emphasizes that China needs to enhance the new industrialization, new urbanization and new modernization based on the restriction of natural capital, and discusses the technological and mechanistic support required to realize the development under the scarcity of natural capital.