(China Economic Roundtable) East China's Shanghai offers wisdom for nationwide urban renewal

Shanghai's successful practices in urban renewal provide valuable experience for cities across China, said an official during the latest episode of China Economic Roundtable, an all-media talk show hosted by Xinhua News Agency.

Building on in-depth preliminary investigations, Shanghai has adopted a household-specific urban renewal strategy, under which each household receives a customized renewal plan, according to Pan Wei, an official with the Ministry of Housing and Urban-Rural Development.

Each renewal plan is created based on face-to-face exchanges with local residents -- whose concerns are particularly solicited and studied, Pan said.

Pan added that Shanghai has also explored a wide range of fundraising approaches. In addition to subsidies from the central government, the municipal government has increased financial support for areas facing difficult renewal tasks, he explained.

Under its urban renewal drive, Shanghai has since 2023 completed housing renovations covering 380,000 square meters within its inner city. This metropolis in east China has also launched 56 renewal projects in shantytown areas -- benefiting 22,000 households, official data revealed.