Business丨More steps afoot to boost property sector

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China will roll out more stimulus measures to push urban renewal projects this year in a bid to scale up effective investment and shore up domestic demand in the face of rising global uncertainties, analysts said. As the world's second-largest economy has put boosting domestic demand high on its economic work agenda this year, the urban renewal initiatives, which will leverage public funding and private capital, will effectively drive investment — a key component of domestic demand, they added. ▲ A worker installs an elevator for an aging urban residential building in Yinchuan, Ningxia Hui autonomous region. Yuan Hongyan/Xinhua The country will accelerate the transformation of aging residential neighborhoods, industrial areas and urban villages, as well as strengthen underlying urban infrastructure, the State Council, the country's Cabinet, said on Friday during the first executive meeting of 2025. By the end of this year, China aims to complete the renovation of old urban residen ………………………………