Western propaganda puts a spin on this. IMO, Chinese have more rights to property than anyone in the West. In any Western country.
True in China, land is owned by the state, but individuals can hold rights to use it. This is to facilitate & control urban development, nothing more. So, in the city anyone can own residential property, typically via a 70-year or 99-year land-use right. In rural areas, land may be collectively owned by farmers, and individuals may hold personal rights, which grant usage without full ownership. These are rights to occupy and use land for specific periods. People in China have no issue with this, once the 70-year lease comes to an end, all you have to do is renew it, pretty straight and forward process.
However, and here's the kicker, Chinese are allowed, encouraged and supported by the State to own land, or anything else in any country in the West. And millions do, that's why from USA to Japan to Australia, etc. Chinese own a hugely disproportionate amount of foreign land and real-estate property. The reverse is not true. As a US, French or Australian citizen is very hard to have property in China. Foreign property ownership in China involves specific regulations that vary based on residency status and property type. And it's complex.
Western propaganda puts a spin on this. IMO, Chinese have more rights to property than anyone in the West. In any Western country.
True in China, land is owned by the state, but individuals can hold rights to use it. This is to facilitate & control urban development, nothing more. So, in the city anyone can own residential property, typically via a 70-year or 99-year land-use right. In rural areas, land may be collectively owned by farmers, and individuals may hold personal rights, which grant usage without full ownership. These are rights to occupy and use land for specific periods. People in China have no issue with this, once the 70-year lease comes to an end, all you have to do is renew it, pretty straight and forward process.
However, and here's the kicker, Chinese are allowed, encouraged and supported by the State to own land, or anything else in any country in the West. And millions do, that's why from USA to Japan to Australia, etc. Chinese own a hugely disproportionate amount of foreign land and real-estate property. The reverse is not true. As a US, French or Australian citizen is very hard to have property in China. Foreign property ownership in China involves specific regulations that vary based on residency status and property type. And it's complex.
They also only pay a property tax once during purchase unlike western gouging every year that always goes up.
How many trillions of debt does the states owe again? 🤣 even after all that gouging
Hopefully that bubble doesn't burst...amirite?!