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39,000 Shanty Towns Across China Are Getting a Facelift in 2020

39,000 Shanty Towns Across China Are Getting a Facelift in 2020

 

This April 14th, the Executive Meetings of the State Council revealed that in 2020, about 39,000 shanty towns countrywide will be renovated, benefiting up to 7 million households.   

 

Latest data from the Ministry of Housing and Urban-Rural Development (MOHURD) show that there are currently 160,000 shanty towns across China, home to over 42 million families, with a construction area of roughly 4 billion sq.m

 

Lu Zhengwei, Chief Economist of Industrial Bank Co., Ltd. estimates that to rebuild and refurbish all the shanty towns in China, a minimum of 3.85 trillion yuan investment is required, representing great opportunities for the prefabricated building industry, since prefabricated construction is pushed forward in state-led projects nationwide.

 

By the end of this April, at least 20 provinces and municipalities have released their shanty town renovation plan for 2020, and here are part of them.

 

 

With the Covid-19 epidemic well contained in the country, out of the 186,600 currently-underway housing and infrastructure projects in China, 158,700 have resumed construction by this April 1st, as reported at MOHURD’s televised telephone meeting this April. It’s believed that there will still be a sizable construction market in China for 2020.

 

If you want to seize your opportunity in China, please don’t hesitate to join CIHIE 2020, one of China’s most influential professional prefabricated building trade shows to date!