China's top economic planning body said it has finished the final revision of its long-awaited urbanization plan and is waiting for approval from the State Council.

Xu Lin, head of the economy planning department of the National Development and Reform Commission, said on Wednesday the NDRC has submitted its draft urbanization plan to China's Cabinet, after adding suggestions sought from government agencies and experts on the Urbanization Working Conference of the central government in December.

Xu said he is not sure when the central government might approve the proposal.

Previous media reports said it is likely the State Council will approve the plan before Lunar New Year.

China has high hopes for another round of urbanization, which would focus on small and medium-sized cities instead of building up mega-cities, in a major economic drive to boost GDP growth and narrow the regional gap.