China: China unveils urban renewal plan for next five years.

Storyline China unveils urban renewal plan for next five years Chinese authorities say the renovation of old residential communities and urban villages and historical building restoration are among the urban renewal priorities during the 15th Five-Year Plan period. Qin Haixiang, Vice Minister, Ministry of Housing and Urban-Rural Development: "We have set development goals for 2030 and 2035. These include renovation of unsafe urban housing units, the restoration of historic buildings, the construction of sports facilities, the upgrading of parks and green space, the modernization of underground utility networks, and the improvement of emergency shelters, as well as the digitalization of urban housing infrastructure." Other key objectives will be creating high-quality urban living spaces, advancing the green and low-carbon transition of cities, building safer and more resilient cities and enhancing urban governance capabilities. The Ministry of Finance confirmed continued central government financial support for the urban renewal projects. Guo Fangming, Director, Department of Economic Construction, Ministry of Finance: "Starting from 2024, the Ministry of Finance has initiated efforts to support urban renewal actions in a total of 50 key cities, including Beijing, Shanghai, Shenyang, and others. The central government provided fixed subsidies to each city in the eastern, central, and western regions, to support demonstration urban renewal projects. During the 15th Five-Year Plan period, these 50 cities will explore replicable and promotable mechanisms for urban renewal actions." Authorities say the urban renewal plan highlights cities' re-development as a long-term economic and policy priority. And it is expected to create opportunities across industries including construction and engineering, smart city technologies and urban infrastructure management. [Restrictions: No access Chinese mainland]