ChinaUnveilsSweepingFive-YearUrbanRenewalPlan

China has unveiled its 2026-2030 urban renewal plan, outlining major targets for housing upgrades and infrastructure renovation as it shifts from expansion-driven growth to city upgrading.

The plan calls for renovating 500,000 run-down urban homes, upgrading 115,000 old residential communities, and revamping 4,000 urban villages. It also includes upgrading 365,000 kilometers of underground pipelines.

A spokesperson for the National Development and Reform Commission said China is expected to invest about 5 trillion yuan ($737 billion) in underground pipeline construction and upgrades during the five-year period, covering gas, water, drainage and heating systems.

The plan allows local governments to use special-purpose bonds as project capital for eligible urban renewal projects.

Authorities also plan to unlock idle land, unfinished projects and vacant properties, and encourage developers to participate in urban renewal.

The announcement lifted property stocks Friday, with several hitting daily trading limits.

China also aims to build a sustainable financing system combining fiscal support, financial support and private capital participation.

Contact editor Lin Jinbing (jinbinglin@caixin.com)