Urban Renewal 15th Five-Year Plan: RMB 97 Billion Budget and RMB 160 Billion Bonds for 2026 Underground
China's Urban Renewal 15th Five-Year Plan sets out 23 key tasks spanning new momentum for urban development, green and low-carbon transformation, and safety resilience. For 2026, central budget investment allocates RMB 97 billion for urban renewal, with RMB 160 billion in ultra-long-term special treasury bonds earmarked for underground pipeline networks. The plan also targets construction of 5,000 complete communities, renovation of 1,500 old neighborhoods and factory areas, and renewal of approximately 500,000 dilapidated urban homes.
The Urban Renewal 15th Five-Year Plan identifies 23 key tasks spanning the cultivation of new momentum for urban development, the promotion of green and low-carbon transformation, and the enhancement of urban safety and resilience. Building 5,000 complete communities, renovating 1,500 old neighborhoods and factory areas, and updating approximately 500,000 dilapidated urban homes also rank among the principal investment priorities.
On funding arrangements, central budget investment for the urban renewal programme in 2026 totals RMB 97 billion, while RMB 160 billion in ultra-long-term special treasury bonds will be earmarked specifically for underground pipeline network construction. Social capital will participate in street, factory and park renewal projects capable of generating stable returns through professional operations, while bank credit, real estate investment trusts and asset securitisation instruments will further enrich funding sources. For initiatives such as adding elevators to old walk-up apartment buildings and the self-initiated renewal of dilapidated housing through demolition and in-situ reconstruction, residents will bear the costs themselves under the principle of "who benefits, who pays".