Recently, the General Office of the Ministry of Housing and Urban-Rural Development released the Collection of Urban Renewal Case Studies: New Life, New Business Formats, New Spaces and New Models, featuring 20 exemplary urban renewal projects from across China. Jiangsu boasts four of the selected projects, more than any other province.

The Suzhou Shuangta Market Renewal Project and the Nantong Yangtze River Sports Park Renewal Project were included in the “New Life” category. The Shuangta Market has created dedicated spaces for local snacks and innovative brands, transforming the area into a multifunctional public space offering everyday services, distinctive shopping and dining experiences, and leisure activities. The market now attracts an average of more than 7,000 visitors every day on weekdays and between 12,000 and 15,000 on weekends.

The Nantong Yangtze River Sports Park has combined ecological restoration along the Yangtze River waterfront with improvements to public amenities. Following its redevelopment, the park has become a high-quality public space offering facilities for fitness, cultural and recreational activities, and ecological sightseeing. Since its opening, the riverside trails and family-friendly areas have attracted more than 10,000 visitors per day on average, and the park has hosted over 100 themed events.

The Wuxi Railway Station Area Renewal Project was included in the “New Spaces” category. Using the redevelopment of the South Square of Wuxi Railway Station as an opportunity, the city has undertaken a coordinated renovation of the old railway station and surrounding neighborhoods. The project has significantly upgraded local infrastructure and public amenities while improving the quality of public spaces throughout the area.

Jiangsu’s urban renewal investment and financing model was included in the “New Models” category. The provincial budget allocated RMB 150 million annually as special funding to support urban renewal. The province also took the national lead in introducing fiscal interest subsidies for its “Chengxin Loans” urban renewal financing program, with a total of RMB 344 million allocated in interest subsidies to date. In addition, the province has established a coordinated provincial-municipal project database for urban renewal and shared information on more than 3,500 projects with financial institutions. Policy banks have provided more than RMB 45 billion in financing annually. By leveraging fiscal funds to attract private-sector investment, Jiangsu has developed a diversified investment and financing model that can be replicated and adopted elsewhere.