Abstract: There was the first industrial estate in Liwan District of Guangzhou in 1930s, of which the cemen factory was the forerunner in latter-day industry development.Now, the area is near the developing downtown, how to continue the context of the city culture, to make commerce activity is the key after the movement of the factory in the district.With the idea to continue the context, create new city lifestyle, build new city space and new city value, it is analysed the trend of rebuilding and reusing industrial buildings to offer a development mode for utilization replacement in old factory and regeneration of the old city, brings out an executive project to rebuild and reuse industry buildings.