Core Viewpoint - China's urban renewal initiative will receive multi-channel funding support, with a focus on enhancing public infrastructure and services [1][2] Group 1: Funding Support - The central government will increase investment support for urban renewal, with a dedicated budget for 2025 to fund public infrastructure and services [1] - Over 470 billion RMB has been allocated since the 14th Five-Year Plan for urban infrastructure projects, including gas and drainage systems [1] - An additional 290 billion RMB has been earmarked for urban underground infrastructure projects through long-term special bonds since 2024 [1] Group 2: Investment Mechanism - A diversified funding mechanism is essential, as government investment alone is insufficient for large-scale urban renewal projects [2] - The government aims to enhance investment efficiency and encourage participation from various stakeholders, including market mechanisms and public-private partnerships [2] - Innovative financing models will be prioritized for projects that demonstrate strong potential and effective demonstration [2]