The General Office of the Ministry of Housing, Urban-Rural Development and others issued guidance on promoting the renovation and upgrading of old neighborhoods and factories, which proposed the establishment of a sustainable investment and financing model. All regions should make good use of all kinds of relevant financial resources, improve market-based investment and financing models, introduce social forces to revitalize capital, improve revitalization and utilization efficiency, support all types of enterprises to participate in the renovation and upgrading of old neighborhood factories, expand diversified investment and financing methods, and standardize market-based operation processes. Standardize the implementation of new mechanisms for government and social capital cooperation. Encourage all regions to explore innovative, transformation and upgrading models to increase the vitality of stock asset inventories. Encourage financial institutions to improve financial support in accordance with the principles of marketization and legalization of the rule of law to renovate old neighborhoods and factories. Support eligible projects to issue real estate investment trusts in the infrastructure sector. Property rights holders are encouraged to renew themselves in accordance with the principle of who benefits and who invests.

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