According to an article published on Southern Metropolis Daily (www.nfdaily.com) on August 31, 2010, “The Chinese people do not really own the property they purchase; the biggest owner is the government.”
“Since the nineties of the last century, the Chinese people have been purchasing their own property. As housing prices have risen, private real estate has become the largest asset for many ordinary families, but the concept of real estate in China is different from the concept in international society. Theoretically, all the land for urban residential properties belongs to the country. Although the law allows a homeowner to enjoy the property (he purchaed) for 70 years, … the biggest property owner is the government. It can take back residential land at any time in the name of ‘public interest’ and let the home owner’s wealth, which accumulated for years, go with the wind.”
The article gave two examples of forced evictions in China.
Source: Southern Metropolis Daily, August 31, 2010
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