Shenzhen has introduced a new policy that enables the conversion of idle commercial, office, and industrial buildings into new functional spaces without changing land-use designation or paying additional land premiums during an initial transition period.

The Implementation Measures for the Functional Conversion of Existing Non-Residential Buildings in Shenzhen, jointly issued by the Municipal Planning and Natural Resources Bureau and the Housing and Urban-Rural Development Bureau, took effect on March 26 and will remain valid for five years.

Under the measures, eligible non-residential buildings may be repurposed into urgently needed public-service facilities, industrial spaces, and other functions aligned with market demand. A "positive list" management system specifies which types of conversions are permitted, while a five-year transition period allows approved projects to operate without supplementary land-use fees.

After the transition period ends, project operators may apply for an extension of up to 10 years or proceed with formal land-use adjustments based on the new function, at which point land-premium payments would be required according to regulations.

The policy reflects Shenzhen's early shift into a "stock-based development" phase, earlier than any other megacity in China. As early as 2012, the scale of redevelopment and renewal in the city surpassed that of new land development, marking a significant turning point in its urban growth model.

The new measures are positioned as a response to evolving urban-development needs and are expected to help address demand for housing, public services, and industrial space by making more efficient use of existing building resources.