The right of use can be renewed.

However, it is not very clear yet where there will be a renewal fee or how much it will be.

As for demolishing of the building, you will be compensated. Well, whether the compensation is fair or not ...

When I was in Beijing this summer, a friend told me in one residential area, the government said the previous planning and/or zoning approval is not right. The previous approval was from the same government.