To increase urban space through expansion has become a thing of the past. Against the background of transformation of urban development, it is difficult for the government to buy back land from private sectors and to build urban public space. As a result, a more viable option is to promote Privately Owned Public Space (POPS) through urban renewal. Due to the large scale and fast speed of renewal work, however, POPS has confronted a series of problems during its planning, construction and supervision, which include low quality, low utilization rate and low accessibility, etc. Thus, effective management methods and institutions are urgently needed to keep POPS on the right track. This article takes as an example the research on POPS management methods in Shenzhen urban renewal units to explore management methods and patterns of POPS suitable for China's national realities and local administrative conditions, in the hope of providing lessons for other cities that would face similar problems.