The target of this year's old communities renovation was clarified at the State Council executive meeting chaired by Premier Li Keqiang on April 14.
According to those at the meeting, the government will enhance the renovation of old communities to improve people's livelihoods and expand domestic demand.
The move will improve people's living conditions, expand domestic demand and boost consumption, Premier Li said at the meeting.
Since 2019, Premier Li has inspected multiple times the renovation of old residential communities in urban areas during his inspection tours.
In an old residential community in a western province, local residents told the Premier that they were willing to spend some money on the renovation of the old residential area subsidized by the government. And another old community in the eastern part of China has introduced social forces in renovation, bringing day care, housekeeping, and healthcare services to the community, which is widely welcomed by residents.
According to local experiences, a co-sharing mechanism of renovation funds from governments, residents and social forces is effective at solving capital difficulties, Premier Li said at the meeting.
Plans were made at the meeting to renovate 39,000 old urban communities nationwide this year, benefiting about 7 million households, which is double that of last year. The renovation will mainly focus on residential areas built before the end of 2000.
Local government at all levels should improve community facilities and municipal infrastructure following the wishes of residents, and enhance public services, such as elderly care, day care and medical care in communities, according to those at the meeting.
To support the renovation, the central government will grant subsidies, with contributions encouraged from special local government bonds and social capital.
"There is a huge potential in domestic demand from the transformation of old urban residential communities." Premier Li Keqiang said.
"People have diverse needs in the communities, such as elderly care, day care, and medical care and housekeeping services, and the newly added services will not only expand employment and entrepreneurship, but also drive effective investment to improve the quality of life of the residents," the Premier added.
