"Urban renewal" now is the new phase of China's urbanization. In this regard, ANBOUND think tank scholars has concluded the features of the new phase: aims at digesting and revitalizing the urban stock assets; emphasizes on the concept of "urban assets"; highlights the significance of improving urban environment, public service and infrastructure quality; encourages the local government avoiding debt that is produced via expanding city scale. There many new development models and methods around the topic are worthy to be discussed.