Anchored by high-quality urban renewal

Continuously promote the stabilization of the real estate market and industry transformation with high-quality urban renewal as the anchor

The Central Urban Work Conference, which concluded on July 15th, clearly pointed out that China's urbanization is shifting from a period of rapid growth to a period of stable development, and urban development is shifting from a stage of large-scale incremental expansion to a stage mainly focused on improving stock quality and efficiency. On the basis of this authoritative judgment, the meeting clearly pointed out that connotative development is the main line of future urban work, and at the same time, promoting urban renewal is an important lever for achieving modern people's urban construction with high-quality development. Therefore, the conference specifically calls for high-quality urban renewal in the deployment of innovative urban construction, as well as accelerating the construction of a new model for real estate development and steadily promoting the renovation of urban villages and dilapidated houses in the deployment of livable cities. These important statements have clarified the historical direction and pointed out the future direction for the transformation and development of China's real estate industry.

On July 30th, the Central Political Bureau further clarified the requirements to implement the spirit of the Central Urban Work Conference and carry out high-quality urban renewal. At the same time, the meeting emphasized the need for sustained and timely strengthening of macroeconomic policies, the implementation of more detailed and proactive fiscal policies, the maintenance of sufficient liquidity in monetary policies, and the strengthening of consistency in macroeconomic policy orientation.

In this context, in order to promote the stabilization of the real estate market, necessary policy determination should be preserved. Based on digesting and implementing existing policies in detail, priority should be given to expanding and refining the "big cake" of urban renewal, which will be a part of real estate development for a considerable period of time in the future. High quality urban renewal is also an important component of promoting the transformation of real estate development and accelerating the construction of new models for real estate development. It should become the central anchor of current and future real estate development work.

Ni Hong, Minister of Housing and Urban Rural Development, made a profound and comprehensive exposition on the importance of urban renewal and its integration with the "four good" construction of good houses, good communities, good neighborhoods, and good urban areas in the article "Creating a New Path for Modernization of Chinese Characteristics Cities" published in the "Qiushi" magazine on August 1st. Minister Ni Hong's article particularly emphasizes the need to work hard to build good houses, improve the level of housing design, construction, maintenance, and service throughout the entire chain, and build safe, comfortable, green, and smart houses for the people. Minister Ni Hong's article also emphasized the need to work hard to build good residential areas and continue to promote the renovation of old urban residential areas. All of these provide directions and detailed guidance on how to closely integrate the transformation and development of real estate with urban renewal.

The high-quality urban renewal based on the coordinated planning of "increment stock quality" not only provides reassurance for the real estate market to stop falling and stabilize, but also provides a broad stage for accelerating the transformation and development of the real estate industry and building a new model of real estate development. The overall planning of "increment stock quality" is ultimately a practice of the people's urban concept, actively and accurately responding to the growing diversified and beautiful living needs of the people.

Taken from Chen Jie, Director of the Housing and Urban Rural Development Research Center at Shanghai Jiao Tong University and Professor at the School of International and Public Affairs, China Construction News, August 12, 2025