Shanghai is set to launch a series of urban renewal projects, including upgrading 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 period (2026-30), which was released on Aug 20.

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 out 19 major indicators and 23 key tasks across six areas, including improved living conditions, citywide renewal, and a new development model for the property sector featuring more diverse rental housing.

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

Source: China Daily