The State Council issued the Urban Renewal "15th Five-Year" Plan, directing
financial support for urban renewal. The plan will explore financing for
self-directed upgrades of aging urban housing and in‑situ demolition-and-rebuild
projects, actively attract private capital, and promote eligible urban renewal
projects to issue infrastructure REITs and other real-estate assets
securitizations. It also supports qualified urban-renewal firms issuing
corporate bonds and medium-term notes. Funding will follow a beneficiary-pays
principle to leverage market financing and construct a shared financing
mechanism among government, market and residents; the plan also standardizes new
government‑private partnership mechanisms, encourages private-sector
participation in infrastructure construction and operation, and calls for
cautious progress on public-utility price reform.
