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China is a has a very statist economic system with limited economic freedom for consumers. To list a few examples - urban property cannot be owned outright by

• somat 3y ago
  A question on the ownership of property in china and how it relates to the "nail" houses often seen in pictures. While I am sure real property ownership is weaker in china, The propaganda is I assume based on a exaggerated version of the truth. I also have never seen a public works project held up so dramatically by a single reluctant owner. Usually the government will claim eminent domain and poof, there go all your so called real property ownership rights, up in smoke. What is it about these cases that that a person in a communist state(where by definition no one owns property(yes I know this is not strictly true but for the sake of the question hear me out)) apparently has stronger property guarantees than than our ownership centric capitalist state?
  • spacebanana7 3y ago
    My concern with Chinese property rights is the nature of the land use right rather than the respect those rights receive for from the government. For example instead of buying a house in China, people obtain residential land use rights from the local authority for a period of up to 70 years [1]. AFAIK this translates to a 70 year leasehold contract in British, which isn't that much. It's very possible, in theory, to 'purchase' a house in China and have be unable to live in it within your lifetime. [1] https://en.wikipedia.org/wiki/Property_law_in_China https://en.wikipedia.org/wiki/Property_law_in_China