[China's 15th Five-Year Plan: 15 Trillion Yuan for Urban Renewal, Focusing on Green Development and Safety]

The Urban Renewal 15th Five-Year Plan has identified 23 key tasks involving cultivating and strengthening new momentum for urban development, promoting the green and low-carbon transformation of urban development, and enhancing urban safety resilience. During the 15th Five-Year Plan period, urban renewal is expected to complete an investment of 15 trillion yuan.

First, government funding for urban renewal has been continuously scaled up. This year, 97 billion yuan was allocated within the central budget for urban renewal, and 160 billion yuan from ultra-long special government bonds was allocated to support underground pipeline construction; second, private capital has been actively following suit. For projects such as the renewal of urban blocks, factory areas, and industrial parks—which can generate stable returns through professional operation—private capital will participate actively. Bank credit, real estate investment trusts, and asset securitization instruments will further diversify funding sources; ordinary residents are also among the main participants. For installing elevators in old walk-up apartments and self-initiated redevelopment of dilapidated housing through original-site demolition and reconstruction, the principle of "those who benefit should pay" applies, and residents' own investment is also indispensable.