The first batch of government bond-supported residential old elevator renovation projects in Kunshan, Jiangsu has been fully delivered

On July 18, the first batch of ultra-long-term special government bonds-supported residential old elevator renovation projects in Kunshan, Jiangsu, was completed and put into use. In November last year, the first batch of government bond funds in Kunshan supported the renovation of 2,196 old residential elevators, ranking among the top in similar cities nationwide. Under the premise of residents fully choosing the brand, KONE won the bid for 2,106 elevators, accounting for about 96%. The project covers 142 communities in the city, benefiting more than 50,000 households. KONE took 8 months, and the 2,106th elevator was officially delivered on July 18, marking the successful completion of the elevator renovation project in Kunshan. Public information shows that in 2024, the renovation of old residential elevators will be included in the funding support scope of ultra-long-term special government bonds. The Ministry of Housing and Urban-Rural Development stated that as of June, ultra-long-term special government bond funds have supported the renovation of a total of 41,000 old residential elevators across various regions, benefiting 1.7 million residents. In 2025, ultra-long-term special government bonds have allocated 18 billion yuan in funds to support the renovation of 120,000 old elevators across various regions