China Outlines 2030 Plan to Revamp Housing and Urban Development

China plans a broad package of measures aimed at revitalising its cities and property market, according to guidance reported by state-run Xinhua News Agency. Beijing intends to foster emerging industries while accelerating a “new model” of real-estate development that better meets residents’ housing needs. The government also pledged to open urban projects to more diverse funding sources and to lift disaster-prevention and defence standards in newly built areas. Authorities set a goal of achieving significant progress in overall city development by 2030, signalling an ambition to balance economic growth with improved living conditions and greater resilience.