On September 10, the Xining Municipal Finance Bureau announced that the city has successfully secured 34.95 million yuan in ultra-long-term special treasury bond funds designated for elevator installations in older residential communities, marking a milestone as the first allocation of such funds for this sector.

Since the introduction of the ultra-long-term special treasury bond policy supporting large-scale equipment renewals in 2024, Xining has leveraged these funds to drive the renovation of aging elevators in existing residential buildings. To date, a cumulative total of 156.5 million yuan has been allocated, effectively mitigating elevator safety risks, enhancing equipment performance, and safeguarding residents' vertical travel security while steadily improving public satisfaction.

In 2026, the central government further refined the ultra-long-term special treasury bond support framework, broadening its scope to include more livelihood-focused sectors and newly incorporating elevator installations for existing residential buildings in older communities into the program. Acting on its fiscal responsibilities and closely aligning with policy directives, the Xining Municipal Finance Bureau seized this strategic opportunity presented by the policy expansion. In collaboration with development and reform, housing, and other relevant departments, the bureau conducted thorough research and demand assessments, proactively liaised with higher-level authorities to secure funding, and successfully obtained 34.95 million yuan in special treasury bond allocations. This funding supports elevator installation projects across 132 older residential communities, establishing a diversified funding mechanism that combines national bond subsidies, local government contributions, and homeowner co-investment.

The implementation of this expanded policy achieves full-cycle coverage, transitioning from updating existing old elevators to installing new ones, thereby addressing long-standing challenges such as financing difficulties, slow project progress, and heavy financial burdens on residents in older neighborhoods. The injection of treasury bond funds substantially reduces overall project costs, significantly alleviating the financial pressure on residents—particularly the elderly and those with special hardships—while actively encouraging greater homeowner participation in community renovation efforts. This initiative addresses gaps in convenience facilities and age-friendly infrastructure within older communities, continuously enhancing the living environment and elevating the overall quality of urban life.