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 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 p

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 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 provident fund integration—and for greater consumer housing finance support to better meet legitimate home-purchase loan demand.