More than 2900 complete community construction projects have been implemented nationwide, with more than 3500 "one elderly and one child" facilities accurately supplemented, over 2600 old factory areas and commercial districts renovated, nearly 15000 medical, sports, education, and cultural facilities constructed and renovated, about 100000 kilometers of urban gas and other pipelines renovated, and 22600 new urban old residential areas renovated in the first five months... The latest data shows that urban renewal is pressing the "acceleration button". Recently, the reporter learned from the Ministry of Housing and Urban Rural Development that more than 66000 urban renewal projects have been implemented nationwide, with a total investment of 2.6 trillion yuan. The urban renewal action is progressing rapidly and steadily, and the comprehensive effects it brings are gradually emerging. Urban renewal is an important measure to promote high-quality urban development. Since the beginning of this year, many places have accelerated the pace of urban renewal. In Xicheng District, Beijing, old residential areas are demolished and rebuilt, and residents bid farewell to the old and dilapidated neighborhoods and move into new homes with reasonable layouts and complete facilities; In Guang'an, Sichuan, the construction of sponge cities has solved the problems of incomplete drainage facilities and low living quality of residents in the old city; In Shijiazhuang, Hebei Province, old industrial relics and factories have transformed into distinctive parks, attracting a continuous stream of citizens and tourists who come to take photos and check in... These urban renewal actions not only bring real convenience to people's lives, but also contain huge market potential behind them. In the process of urban renewal, investment in multiple fields such as real estate, urban infrastructure, commercial and service facilities, and cultural tourism development continues to increase, which helps to stimulate new economic vitality. Research institutions predict that by 2029, the scale of urban renewal investment will exceed 9 trillion yuan. Urban renewal is an inevitable process of urbanization development. Recently, many housing and urban-rural development bureaus have been renamed as housing and urban renewal bureaus, reflecting a shift in the functions of housing departments from traditional housing construction and management to a greater focus on optimizing and updating urban space. This transformation helps to promote the transition of cities from construction oriented to renewal oriented development. Urban renewal involves a wide range of tasks and requires coordinated efforts from relevant government departments. Taking Hubei Province, which has undergone a centralized renaming, as an example, the province's urban renewal work guidelines suggest that local municipal governments clarify the competent department for urban renewal. Incorporating 'urban renewal' into the names of relevant government departments will clarify work tasks and promote more orderly progress. Compared to incremental construction and development, urban renewal differs in investment, construction, management, and other aspects. Continuously promoting urban renewal requires further improvement of systems and strong financial support. In terms of system, some experts have pointed out that although various regions have successively introduced urban renewal policies, China has not yet formed a national level law and regulation as a guide for urban renewal. We can extract and summarize the key procedures and common issues in urban renewal, compile them into a specialized law as a basis, and quickly form a replicable compliance workflow. In terms of funding, in April, the Ministry of Finance and the Ministry of Housing and Urban Rural Development jointly issued a notice clarifying that starting from this year, the central government will innovate ways and methods to support some cities in carrying out urban renewal demonstration work. Recently, after competitive evaluation, 15 cities including Shijiazhuang, Taiyuan, Shenyang, Shanghai, Nanjing, etc. have received the first batch of central financial support. Urban renewal projects usually require large capital investment and long return cycles. In addition to financial support, funding sources can also be expanded through special loans and guiding multiple stakeholders to participate in investment. The purpose of urban renewal is to make cities more livable, resilient, and intelligent, and to make life more comfortable, reassuring, and happy. To promote urban renewal, we need to seize the opportunity, continue to exert efforts, and work hard for a long time. (New Society)