The first "housing purchase and exchange" project in Shanghai signed and settled.

On March 31st, Shanghai's first "housing purchase and exchange" project was officially signed in Jing'an District. Mr. Shi, as the first applicant, signed existing house purchase contracts with the Jing'an District affordable housing company and sales contracts with the new commercial housing project developer, marking the completion of the full process of "housing purchase and exchange" from housing acquisition and displacement of residents to the procurement of rental housing. In February of this year, Shanghai initiated the purchase of second-hand houses for use as rental housing pilot projects, with Pudong New Area, Jing'an District, and Xuhui District as the first pilot areas to advance related work. This signing ceremony marks a breakthrough in Jing'an District in the market-oriented revitalization of existing housing and efficient procurement of affordable rental housing, providing a replicable and scalable pilot practice for the collection of rental housing and housing improvement work throughout Shanghai.