On June 4th, the Ministry of Finance released the "Announcement of the Results of the 2025 Central Financial Support for the Implementation of Urban Renewal Action" (hereinafter referred to as the "Announcement"), which announced the results of the 2025 Central Financial Support for the Implementation of Urban Renewal Action. According to the Announcement, the 20 cities that the central government plans to support are: Beijing, Tianjin, Tangshan, Baotou, Dalian, Harbin, Suzhou, Wenzhou, Wuhu, Xiamen, Jinan, Zhengzhou, Yichang, Changsha, Guangzhou, Haikou, Yibin, Lanzhou, Xining, and Urumqi. The Notice on Carrying out the Central Financial Support for Urban Renewal in 2025 issued by the General Office of the Ministry of Finance and the General Office of the Ministry of Housing and Urban Rural Development in early April proposed that the scope of the central financial support for urban renewal in 2025 would be large cities and above, and no more than 20 cities would be selected, mainly focusing on mega cities and major cities along the Yellow River, the Pearl River and other key basins. The central government will provide fixed subsidies to cities implementing urban renewal actions on a regional basis. Among them, the total subsidy for each city in the eastern region shall not exceed 800 million yuan, the total subsidy for each city in the central region shall not exceed 1 billion yuan, the total subsidy for each city in the western region shall not exceed 1.2 billion yuan, and the total subsidy for each city in the municipalities directly under the central government shall not exceed 1.2 billion yuan. Funds will be disbursed annually based on the progress of the work. The funding support direction includes two directions: key model projects for urban renewal and the construction of urban renewal mechanisms. Li Yujia, Chief Researcher of the Housing Policy Research Center of Guangdong Urban and Rural Planning Institute, stated that urban renewal actions can fill the gaps in urban infrastructure and public facilities, and are also an important carrier for expanding domestic demand and consumption. The promotion cycle is long and the amount of capital investment is huge. The financial support provided by the central government is focused on specific projects, guided by project implementation, and guided by coordinated resources, which helps to break through the bottlenecks in the entire process of project planning, approval, promotion, and funding allocation. The comprehensive acceleration of urban renewal work focuses on using central fiscal funds on the cutting edge, innovating fiscal models, and stimulating local endogenous driving forces for promoting renewal. The allocation of central quota subsidies has solved the most difficult problem of low enthusiasm for market-oriented investment in urban renewal, and has also cleared obstacles for local and market investment, creating a new model of urban renewal investment and financing with the participation of the whole society. ”Li Yujia stated. (New Society)