China's fast growth of economy and urbanization have driven large-scale urban renewal projects, thus triggering a wide spectrum of unsustainable problems. Little research has systematically explored the stakeholders' expectations in urban renewal projects in China. A deeper understanding of the divergent interests and expectations of the key stakeholder groups is an important step towards sustainable urban renewal. This paper aims to analyze the stakeholders' expectations on urban renewal projects. Eighteen factors are identified and compared among the main stakeholders: government sectors, consulting parties, the general public and affected residents in both redevelopment and rehabilitation projects, using questionnaire survey and interviews in Chongqing, China. The results reveal that there exist enormous differences of opinions and interests among stakeholders in all economic, environmental and social aspects. To achieve sustainable urban renewal in China, the governments ought to reconsider what the "public interest" stands for. In-situ residents should be understood and treated differently, based on the type of projects. An effective dialogue mechanism as well as supportive administrative and legal system should be established. Moreover, urban-renewal-related education and publicity should be a long-term strategy to change current awareness of different stakeholders, by improving their skill and willingness to participate.