Shanghai deputy party secretary and Mayor Gong Zheng chaired a municipal
executive meeting on June 15 that in principle approved the city’s 15th
Five-Year Plan for urban renewal and housing development. The plan directs
high-quality urban renewal and a faster shift to a new real-estate development
model, endorses a rent-and-buy approach, and sets targets to balance supply and
demand for market-rate housing and keep overall prices stable; it also calls for
expanding and upgrading guaranteed rental housing, accelerating construction of
homeowners’ committees where required, resolving community property-management
issues, and developing waterfront districts along the city’s main waterways.
