The Chinese main government will continue to support metropolitan renewal projects this year, focusing on attending to the pressing issues of the people and driving top quality city development, the Ministry of Finance announced Tuesday.According to a statement on the ministrys site, the government will check out methods to establish a sustainable city renewal mechanism, deal with gaps and weak points in urban facilities, and enhance the building of consumption-oriented infrastructure.In 2025, financial support for city renewal will target large cities and metropolitan areas, with no more than 20 cities selected.
Concern will be provided to mega and super-large cities, along with big cities along crucial river basins such as the Yellow River and the Pearl River.The main government will offer fixed aids to the selected cities based on their regions.
Particularly, the total subsidy for each city will be capped at 800 million yuan (roughly $111.05 million) in the eastern region, 1 billion yuan in the main region, and 1.2 billion yuan in the western region in addition to in towns straight under central government jurisdiction.
Funds will be disbursed annually in accordance with the development of the projects.The picked cities are expected to use the aid to substantially improve metropolitan underground pipelines and other infrastructure within 3 years.The performance of domestic sewage collection and treatment will be further improved in the picked cities, and the living environments in old city areas will see impressive advancements, according to the statement.