Deputy Director Liu Sushe of the National Development and Reform Commission introduced the relevant situation of implementing a package of incremental policies at the State Council Information Office press conference, stating that according to relevant studies, it is expected that the construction and renovation of the local underground pipe network will reach a total of 0.6 million kilometers in the next five years, with a total investment demand of 4 trillion yuan. The next step will continue to coordinate the use of various funds, prepare project lists and investment plans in advance, and continue to promote the upgrading and transformation of urban infrastructure. Among the project lists for next year with an early allocation of two 100 billion yuan investment projects, priority will be given to supporting key projects for urban renewal. Currently, there is a large demand for funding for urban underground pipe networks, and mature projects will be given priority support for underground pipe network construction projects.

Liu Sushe also stated that in the coming years, urban renewal will still be a key focus of government investment, and efforts will continue to be intensified in 2025. The National Development and Reform Commission will continue to coordinate and increase investments from the central budget, supporting urban renewal projects such as the transformation of old residential areas in towns, transformation of urban villages, and renovation of dilapidated housing. At the same time, research will be conducted to include urban renewal projects with certain benefits, such as the transformation of old streets and industrial areas, in the scope of support for local government special bonds.