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China exceeds five-year target in renovating rundown urban areas

(Xinhua)    11:13, October 18, 2020

BEIJING, Oct. 17 (Xinhua) -- By commencing renovation projects on 21.57 million homes from 2016 to 2019, China has already exceeded its target for housing renovation in rundown urban areas set for the 13th Five-Year Plan period (2016-2020).

The plan aimed to begin renovating 20 million homes amid efforts to speed up urbanization and improve people's livelihoods.

According to data from the Ministry of Housing and Urban-Rural Development, the country's massive renovation project is expected to cover a total of 23 million homes by the end of this year, improving living conditions for some 50 million residents.

The total investment is estimated at 7 trillion yuan (about 1.04 trillion U.S. dollars).

Permanent urban residents exceeded 60 percent of the Chinese population for the first time in 2019, according to a government work report.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Zhang Wenjie, Bianji)

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