[Editor’s Note]

The issue of urban finance plays a crucial role in urban renewal. As China's urbanization transitions from a phase dominated by rapid physical expansion to an era of slower spatial growth and higher quality development, the immense demand for renewing aging urban areas has come to the forefront. Compared to the land development and housing construction of new towns, cities and towns without the indulgence of "land finance" resemble those experiencing withdrawal after prolonged dependence on an abundant supply of "financial opiates." In the context of urban renewal, how capital is introduced, how fiscal discipline is maintained, and how towns achieve self-reliance and sustainable development not only become more complex but also serve as a true test of their vitality.

A decade from now, some cities will thrive, while others will undoubtedly struggle to rise. Urban planning, as a profession, should assist more cities in overcoming their dependence on the "land finance addiction" and finding renewed vitality. As a repository of professional knowledge in urban planning, the Urban Planning Forum aspires to use this unprecedented thematic discussion on new urban finance to explore sustainable mechanisms, models, and pathways for urban renewal supported by public finance.

To this end, the editorial board has invited 10 experts to participate in an academic discussion on "Sustainable Urban Renewal through Public Finance." The experts have analyzed this topic from three perspectives: challenges and issues, mechanism innovation, and planning responses. Their insights are presented below.