The best explanation I found was this:
"It’s a result of community or district heating systems...where , in cities, instead of having individual central heating systems for each building, there are heating systems that provide heat and hot water to entire city blocks ( or even an entire town)
This is achieved by having a massive boiler building, which heats water to a very high temperature, and pipes buried underground, which distribute the hot water into each building. Normally the pipes are carrying superheated steam under pressure; which then heats the water in radiators in each building via a heat exchanger.
The steam you see in streets is as a result of water from rain, and condensation, falling onto the hot steam pipes, and evaporating, causing steam.
Sometimes it might be the control system bleeding some pressure off at valves, or a leaky valve or junction."