While renovation work had been expected to start on 53,000 old neighborhoods in China in 2021 according to the government work report for 2021, in fact renovation work began on 55,600 such neighborhoods in the given year, as announced by the Ministry of Housing and Urban-Rural Development of China (MOHURD).
As for the 2021-25 period, fixed-asset investment in low-income housing construction in China will likely reach RMB 2.34 trillion ($0.37 trillion), with RMB 560 billion expected to be invested in 2022.