How can a Chinese EB-5 applicant renew their F-1 visa?

This could be a problem. You need a consultation appointment with an experienced attorney.

Did your I-526 request consular processing or adjustment? There is a potential conflict as F-1 requires intent to return and I-526 and I-485 show intent to immigrate. Best to wait for travel permit under I-485 to be safe or prepare to wait overseas.

Although the F-1 visa is a non-immigrant visa and the I-526 process inherently involves immigrant intent, many of my clients have successfully renewed their F-1 visas when their I-526 is pending.If you are pursuing a legitimate master''s program and you confirm in your DS-160 and to the officer that your present intent is to continue studying and if and when your I-526 is approved you will depart the U.S. for consular processing abroad, the consular office may approve your F-1 visa. It is important to note that the office can deny your F-1 visa due to "immigrant intent" but in practice, I have rarely seen this with EB-5 applicants who have strong financial backing and are not trying to misuse the F-1 visa.

Yes, as an intending immigrant you will not be issued an F-1.