中指研究院：前9月全国已发行城中村改造专项债816亿元

Core Viewpoint - Urban renewal, including the renovation of old urban communities, urban village transformation, and underground pipeline upgrades, is a significant focus for the government, with substantial financial backing through special bonds [1] Investment Scale - During the "14th Five-Year Plan" period, the total investment in urban renewal is expected to reach approximately 15 trillion yuan [1] Special Bonds Issuance - From January to September 2025, approximately 640 billion yuan in new local special bonds related to real estate, including affordable housing projects and urban renewal, were issued, marking an 89% year-on-year increase [1] - Specifically, the issuance of special bonds for the renovation of old urban communities and shantytown redevelopment amounted to 632 billion yuan and 1.302 trillion yuan, respectively [1] - Special bonds related to urban village transformation reached 816 billion yuan, reflecting a year-on-year increase of 140% [1] Impact on Population - The renovation of over 240,000 old urban communities during the "14th Five-Year Plan" is expected to benefit more than 40 million households and 110 million people [1] - The installation of 129,000 elevators and the addition of over 3.4 million parking spaces, along with 64,000 community service facilities for elderly care and childcare, are part of the initiative to improve living conditions [1]