Shanghai announces plans for urban renewal projects

Shanghai is to launch a series of urban renewal projects, including the upgrading of at least 150 commercial and office buildings and 5 million square meters of commercial facilities by 2030, according to the Shanghai Observer.

The targets are included in the city's guideline on urban renewal and housing development for the 15th Five-Year Plan (2026-30) period, which was released on Thursday.

For the first time, Shanghai has combined urban renewal and housing development in a single plan, which the guideline identifies as key drivers of the city's development into a modern socialist international metropolis with global influence.

The plan sets 19 major indicators and 23 key tasks across six areas, including better living conditions, citywide renewal and a new development model for the property sector with more diverse rental housing.

The plan also proposes upgrades to commercial and office spaces in areas including Lujiazui and the Hongqiao International Central Business District, along with improvements to the monitoring system for commercial and office buildings.

To strengthen ecological resilience, Shanghai aims to increase the number of parks in the city to more than 1,600. The plan also calls for the development of an ecological park belt around the city.