The State Council of China issued the 15th Five-Year Plan for Urban Renewal (2026-2030), specifying the main targets for urban renewal during the given period. These targets include renovating 500,000 dilapidated urban housing units, commencing renovation of 115,000 old urban residential communities, redeveloping 4,000 urban villages, and upgrading 365,000 kilometers of urban underground utility networks.
During the 14th Five-Year Plan period, China has commenced renovation of 240,000 old urban residential communities, and upgraded 840,000 kilometers of urban underground utility networks. In the 2021-2025 period, China has renovated 175,000 dilapidated urban housing units and developed 2,387 urban villages, which signaled China will shift the development focus in the 2026-2030 period.
The steel intensity of urban renewal projects is far lower than that of newly built commercial housing, which will provide a basic bolstering support for the demand for rebar and wire rod, rather than driving a meaningful rebound for construction steel.
