One of China’s first-tier cities, Shenzhen, plans to propose new rules to promote the rebuilding of villages inside Shenzen. There are three categories of rebuilding activities, including demolition and new construction, remediation and upgrading, and a combination of demolition and upgrading. As of the end of 2022, villages in Shenzhen city accounted for more than 40 percent of the city’s total building volumes.
The rebuilding of villages inside megacities in China is regarded as an effective and important measure to stimulate the sluggish Chinese real estate sector in 2024.
