On Monday, a forum was held at the Beijing South Central Axis International Culture and Technology Park to discuss urban renewal and development. The venue, formerly a clothing wholesale market, was chosen to serve as a prime example of successful urban renewal in Beijing's Fengtai district.

The forum unveiled a map detailing urban renewal projects in 42 sub-districts across Fengtai, covering a total area of 13.6 square kilometers. The district has earlier identified more than 70 urban renewal projects, with 51 plans scheduled for this year. The total investment for these projects amounts to 48.2 billion yuan (US$6.74 billion).

In recent years, Fengtai district has implemented a collaborative approach between the local government and the private sector to carry out urban renewal projects. Notable successful examples of this partnership include the Fanghuali elderly care community and the Fangzhuang Culture and Art Center.

During the forum, Fengtai district entered into agreements with four enterprises, designating them as development partners for urban renewal and industrial upgrading. The total investment from these enterprises is expected to reach 250 billion yuan.

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