Core Viewpoint - The recent issuance of the "Opinions on Continuing to Promote Urban Renewal Actions" by the Central Committee and the State Council emphasizes a comprehensive and systematic strategy for urban high-quality development, focusing on optimizing urban structure, enhancing functionality, preserving cultural context, and improving quality to create livable, resilient, and smart cities [1] Group 1: Focus on Public Welfare - The "Opinions" prioritize practical measures for the public, including the renovation of dangerous housing, comprehensive improvement of old urban communities, and the construction of complete communities to address urgent issues faced by residents [2] - The initiative includes the "Four Goods" construction plan, which aims to enhance the quality of living environments in communities and neighborhoods, focusing on the renovation of aging pipelines and public facilities [2] Group 2: Infrastructure Development - Urban infrastructure construction and renovation are critical tasks for urban renewal, aimed at improving safety resilience and living conditions [3] - The Ministry of Housing and Urban-Rural Development will continue to upgrade underground utility networks and implement urban drainage and flood prevention projects to enhance urban safety [3] Group 3: Planning and Implementation Challenges - The "Opinions" propose six measures to address challenges in urban renewal, including establishing a comprehensive implementation mechanism, improving land use policies, and creating a sustainable urban renewal model [4] - The initiative emphasizes the importance of data sharing among departments and the need for a closed-loop mechanism for urban health assessments and planning [4] Group 4: Financial Support and Investment - Strengthening fiscal policies and funding guarantees is essential for advancing urban renewal, with over 425 billion yuan allocated for 2024 to support various urban projects [5] - The government aims to encourage private sector participation in urban renewal through diversified financing mechanisms and tax incentives [6] - Financial institutions are being guided to increase credit support for urban renewal projects, with a focus on infrastructure and public utility improvements [6]

Group 1 - The core viewpoint of the news is the acceleration of urban renewal actions in China, as outlined in the recent document released by the State Council, which specifies the next steps for urban renewal following the "14th Five-Year Plan" [1] - The urban renewal will focus on upgrading living experiences, including significant renovations of old residential communities, updating aging pipelines, and adding elevators to buildings where conditions allow, benefiting especially the elderly and those with mobility issues [1] - The emphasis of urban renewal is on optimizing existing resources to promote high-quality urban development, which includes upgrading urban functions and infrastructure, such as parking and charging facilities, and enhancing community amenities like libraries [1] Group 2 - The National Development and Reform Commission is organizing project applications and evaluations, with plans to issue the urban renewal special central budget investment plan by the end of June, and will provide subsidies to 20 selected cities, with the highest subsidy in central and western regions reaching 1.2 billion yuan [2] - The approach to urban renewal will involve meticulous governance, prioritizing issues identified in urban assessments as focal points for renewal efforts, aiming for cities to become more livable and smarter over the next five years [2]

本报记者 李凯旋 北京报道 今年5月份，中共中央办公厅、国务院办公厅发布了《关于持续推进城市更新行动的意见》，对城市更 新推动过程中存在的多个难点、堵点给出了一系列解决措施。5月20日，多部门在国新办新闻发布会上 对上述文件提到的重点作出解读。 中央预算内投资给予强力支持 "近年来，城市更新在推进过程中仍然存在诸多的难点、堵点，需要顶层设计推动各地创新政策机 制。"吴建钦对《华夏时报》记者说。而在这其中，资金问题就是执行主体面临的难关之一。 财政部经济建设司方面表示，中央财政将从"三个聚焦"来支持城市更新活动，即聚焦探索新模式，支持 实施城市更新行动；聚焦城市更新重点任务，强化财政政策和资金保障；聚焦财政金融政策协同，推动 健全多元化投融资机制。 具体来看，财政部将扩大地方政府专项债投放领域和用作项目资本金范围，加大对城市更新相关项目的 支持。同时，发挥政策性金融的撬动作用，鼓励政策性银行在风险可控、财务可持续的前提下，对符合 条件的城市更新项目提供支持。 国家发展改革委固定资产投资司负责人表示，2025年，中央预算内投资专门设立城市更新专项，支持城 市更新相关公益性基础设施和公共服务设施建设，在已支持城镇老 ...

其中提到，2027年底，2000年底前建成的需改造老旧小区应改尽改，因地制宜逐步改造2001年至2005年 底前建成的老旧小区，形成一批老旧小区改造版的"川居好房"。 《征求意见稿》还设立了阶段性目标：2025年全省启动约600个城市更新重点片区，实施约3800个城市 更新项目；到2027年底，建成50个省级城市更新重点片区样板，支持各地以更新重点片区为载体整合资 源、集成项目；到2030年，城市更新工作机制、支持政策、技术方法和管理制度更加完善，可持续城市 更新模式基本形成。 近日，四川省住房城乡建设厅发布《四川省实施城市更新行动方案(征求意见稿)》(以下简称《征求意见 稿》)，明确了未来五年四川城市更新的方向和重点。《征求意见稿》围绕城镇老旧小区整治改造、城 中村和老旧街区厂区更新改造、城市生态系统修复等8大重点任务，给出了老旧街区活力再现、历史片 区传承复兴等6个实施路径。 8项重点任务囊括基础设施升级、生态修复等 《征求意见稿》提到了8项重点任务，不仅包括了老旧小区、街区厂区、基础设施的更新改造，还提到 了生态修复、文化保护传承等内容。 在老旧小区、街区厂区更新改造方面，《征求意见稿》提出，将以供排水 ...

Core Viewpoint - The article emphasizes the importance of establishing a diversified financing mechanism to support urban renewal initiatives in China, highlighting both policy-based financial support and market-oriented social financing as essential components [1][2]. Group 1: Policy and Government Support - The Chinese government has been consistently addressing urban renewal in annual work reports since 2021, with specific goals set for significant progress by 2030 [1]. - The Ministry of Housing and Urban-Rural Development reported that over 60,000 urban renewal projects are planned for 2024, with an estimated investment of approximately 2.9 trillion yuan [1]. - The Ministry of Finance plans to expand the scope of local government special bonds to support urban renewal projects, emphasizing the need for policy-based financial institutions to provide backing under manageable risk conditions [2][3]. Group 2: Market and Social Financing - Various cities, such as Chengdu and Tangshan, have initiated beneficial explorations by allocating special fiscal funds to support urban renewal through direct investments and subsidies [2]. - The article highlights the necessity of attracting social capital for urban renewal, despite the challenges posed by the public welfare nature of these projects, which often have long payback periods and low returns [3][4]. - Successful international examples, such as the Denver Union Station project in the U.S., illustrate the potential of public-private partnerships (PPP) in financing urban renewal [4]. Group 3: Financial Institutions and Products - Financial institutions are encouraged to develop tailored financial products and services to meet the diverse needs of urban renewal projects, ensuring compliance with legal and risk management standards [3][4]. - The article suggests that banks should set appropriate loan terms and conditions based on the characteristics of different projects to facilitate financing [4][5].

Core Viewpoint - Urban renewal has become a critical task for cities in China, focusing on optimizing existing spaces and improving quality of life while balancing economic development and environmental sustainability [1][3][4]. Group 1: Urban Renewal Initiatives - Jinan's urban renewal projects, including four ecological restoration projects and the Shuntai Square smart parking project, have been recognized as exemplary cases by the Ministry of Housing and Urban-Rural Development [1][4]. - The ecological restoration projects aim to address the conflict between urban development and mountain protection, restoring 10.8 hectares of ecological area and adding 9.3 hectares of green space [6][7]. - The Shuntai Square project has introduced a layered land use mechanism, creating a three-level smart parking garage that adds over 1,000 parking spaces and a commercial area with a 95% rental rate [9][10]. Group 2: Economic and Social Impact - The urban renewal efforts in Jinan are designed to enhance the quality of life for residents, with projects focusing on improving living conditions in previously dilapidated areas [12][13]. - The city is set to undertake 69 projects for the renovation of old urban residential areas, covering 9.09 million square meters, which will significantly improve living standards [13]. - Jinan's approach to urban renewal emphasizes cultural preservation and innovation, integrating modern amenities while maintaining historical significance [12][15]. Group 3: Future Directions - Jinan aims to continue its urban renewal efforts with a focus on quality and sustainability, leveraging innovative practices to enhance urban living conditions [17].

城市更新行动是满足人民美好生活需要、提升民生福祉的关键举措，也是推动城市高质量发展、打造经 济新业态的重要环节。《意见》明确了城市更新行动的总体要求、主要任务和支撑保障举措，勾画出未 来实施城市更新行动的"路线图"。 中指研究院研究总监吴建钦表示，随着我国城市更新的顶层设计进一步完善，在可持续的城市更新模式 和政策法规的引领下，城市更新在稳增长、扩内需、惠民生方面的重要作用将进一步显现。 多维度开展城市更新 自2019年中央经济工作会议首次提出"城市更新"以来，我国城市更新行动持续推进，取得了显著成效。 据住房和城乡建设部统计，2024年，全国共实施城市更新项目6万余个，完成投资约2.9万亿元。 5月15日，中共中央办公厅、国务院办公厅发布的《关于持续推进城市更新行动的意见》（以下简称 《意见》）提出，转变城市开发建设方式，建立可持续的城市更新模式和政策法规，大力实施城市更 新，促进城市结构优化、功能完善、文脉赓续、品质提升，打造宜居、韧性、智慧城市。 《意见》为城市更新行动提出了新目标，明确到2030年，城市更新行动实施取得重要进展，城市更新体 制机制不断完善，城市开发建设方式转型初见成效，安全发展基础更加 ...

本报讯 近日，莫干山地信实验室党委召开理论学习中心组深入贯彻中央八项规定精神学习教育专题学习会，深入学习贯彻习近平总书 记关于加强党的作风建设重要论述，推动学习教育走深走实。 会议要求，以学习教育成效为实验室科技创新提供坚强作风保障。锚定"打造世界一流时空信息科技创新与智能应用中心"目标，以"科 技创新突破年"为抓手，引导党员 干部大力弘扬忠诚干、务实干、担当干、创新干、团结干、廉洁干的"六干"作风。坚持严字当头，始终保持严的基调、严的措施、严 的氛围，扎实推进科技攻关取得新突破。坚持抓早抓小，抓好年轻党员干部职工的教育管理监督，努力建设一支高素质专业化年轻干部队 伍。坚持务求实效，聚焦群众"急难愁盼"问题，着力解决基层突出难题，营造有利于科技人才潜心研究和致力创新的良好氛围。 会议强调，要把学习教育作为党建工作的重要任务，领导干部以身作则、带头示范，党支部发挥好基本单元作用，形成层层推进的良 好机制，不断推动学习教育取得实效。要在"学"上走在前，持续深化对习近平总书记关于加强党的作风建设重要论述和中央八项规定及其 实施细则精神的学习、理解和掌握，不断增强贯彻执行的自觉性、坚定性。要在"查"上见真章，深入查摆 ...

风险提示：个股业绩波动风险，行业竞争加剧风险，政策落地不及预期风 险，市场流动性分化风险，外部环境不确定性等。 2025 年 05 月 15 日 证券研究报告·北交所报告·北交所定期报告 北交所定期报告 20250515 中央推进城市更新行动，《上市公司募集资 金监管规则》发布 ◼ 今日新股：暂无。 证券分析师 朱洁羽 执业证书：S0600524080003 yuhy@dwzq.com.cn 研究助理 薛路熹 执业证书：S0600123070027 xuelx@dwzq.com.cn 研究助理 武阿兰 执业证书：S0600124070018 wual@dwzq.com.cn 执业证书：S0600520090004 zhujieyu@dwzq.com.cn 证券分析师 易申申 执业证书：S0600522100003 yishsh@dwzq.com.cn 证券分析师 余慧勇 相关研究 《七部门联合发布文件，着力发展科 技金融体制》 2025-05-14 北交所定期报告 内容目录 | 1. 资本市场新闻 | | --- | | 2. 行业新闻 | | 3. 市场表现 | | 3.1. 北交所板块表现 | | 3.2 ...

随着经济社会的不断发展，城市规模日益扩展、结构日趋复杂，城市治理也面临着新挑战。重庆是我国 辖区面积和人口规模最大的城市，探索超大城市现代化治理新路的需求十分迫切。近年来，重庆主城核 心区渝中区积极探索城市更新可持续路径，让"山水之城"焕发新生机。 为破解空间约束，渝中区依山就势对戴家巷开展了立体式更新改造。"一方面，对7200平方米老旧建筑 开展微改造，提升社区公共空间品质，引入一批消费业态；另一方面，对临江崖壁空间进行优化提升， 新建崖壁步道1100米，在垂直立面打造出吊脚楼畔等6处景观和5个观景平台。"渝中区重点项目建设事 务中心主任唐柏君说，更新改造后的戴家巷成为渝中区的一张文旅名片。 在渝中区，像戴家巷这样"贴着崖壁生长"的更新实践还有很多。走进渝中区上清寺街道的曾家岩临崖步 道，山脊线上搭建起了高空栈道、观景平台，山水相连的城市立体画卷一览无余。上清寺街道党的建设 办公室主任邓文鑫告诉记者，更新改造后，曾家岩临崖步道的断头路被打通，解决了居民和游客垂直通 行难题，同时串联起周公馆、桂园等10多处国家级文物保护单位，实现城市风貌与历史文化融合呈现。 向立体要效率，让每一米落差都产生价值。渝中区摒弃大 ...