In the context of high carbon sink targets, the regeneration of China’s waterfront industrial heritage faces both opportunities and challenges. This paper takes Hanggang Park as an example to study its transformation along the Grand Canal. In terms of planning strategy, the park redefines its functionality, including the reuse of construction equipment and multifunctional transformation of space, increasing green space and remediating polluted soil; in terms of transformation direction, the park is environmentally oriented, focusing on vegetation restoration, soil and water restoration and protection, using low-carbon materials for construction and restricting high-carbon emitting enterprises; and the government actively participates in the park by re-planning the site, incorporating top-level design, and managing the development and operation of the park. The successful transformation of Hangzhou Steel Park is a reference for other waterfront industrial heritage. In the future, we should continue to promote technological innovation, sustainable industrial planning, and strengthen public participation and financial investment, so as to realise a win-win situation for both environmental protection and urban renewal, and help achieve the goal of carbon sinks.

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