Shanghai issued its 15th Five-Year Plan for urban renewal and housing
development, directing stepped-up financial support for urban renewal. The plan
urges banks and other financial institutions to increase credit for urban areas
renewal projects and to innovate housing finance products; it tasks the city
real-estate financing coordination mechanism with expanding and improving the
effectiveness of its ‘whitelist’ projects. It also calls for deeper housing
provident fund reform—widening coverage and permitted uses and advancing Yangtze
River Delta providesnt fund integration—and for greater consumer housing finance
support to better meet legitimate home-purchase loan demand.