Minister of Housing and Urban-Rural Development Ni Hong: Will add 1 million sets of urban village renovation and dilapidated house renovation through monetized resettlement

Minister of Housing and Urban-Rural Development Ni Hong stated at a press conference held by the State Council Information Office on October 17 that 1 million sets of urban villages and dilapidated houses will be newly renovated through monetary resettlement. Surveys show that in just 35 large and medium-sized cities, there are 1.7 million urban villages in need of renovation, with other cities also requiring renovations; there are 500,000 dilapidated houses nationwide in need of renovation. The newly proposed implementation of 1 million sets mainly targets projects that are mature in conditions and can be advanced by increasing policy efforts. It will mainly adopt monetary resettlement, which will be more conducive for residents to choose suitable methods according to their own preferences