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China To Push Urban Renewal Projects

CHINA PRESS
MNI (Singapore)

China will advance the transformation of villages in super-large and mega cities, expected to drive an investment over CNY1 trillion, according to a report by Sinolink Securities. The State Council executive meeting last week said the steady promotion of the renovation of these villages is a significant move to improve people's livelihoods, expand domestic demand and promote high-quality urban development. The first-tier Guangzhou city plans to complete CNY200 billion of investment in urban renewal this year, a rise of 60% y/y, the report said. From 2020-2022, the market size of national urban village renovation was CNY1.24 trillion, CNY1.36 trillion and CNY655.9 billion, the report said. (Source: China Securities Journal)

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