China Urban Renewal Market

On November 5, 2021, China’s Ministry of Housing and Urban-Rural Development (MOHURD) released a notice about an urban renewal pilot project, which includes 21 cities and districts.

The purpose of the project is to transform urban development and construction methods, promote efficient urban structures, and improve the quality of life of urban residents.  U.S. construction companies may find potential opportunities in this development.

China’s urbanization rate has reached 64%.  However, the central and western regions of China have lower rates of urbanization (approximately 57%). China is prioritizing more sustainable urban development and plans to upgrade and retrofit older buildings in urban areas.

For more information please contact Shujuan.Cao@trade.gov.