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The country shall protect in accordance with law citizens' private property rights and inheritance rights. The country may, as necessitated by public interest, expropriate or requisition citizens' private property and pay compensation therefor." It can thus be seen that China's property laws have been undergoing developments.
The Property Law of the People's Republic of China (Chinese: 中华人民共和国物权法; pinyin: Zhōnghuá Rénmín Gònghéguó Wùquán Fǎ) is a property law adopted by the National People's Congress in 2007 (on March 16 [1]) that went into effect on October 1, 2007.
Sales by the top 100 developers in mainland China had fallen by about 33 per cent year on year in July 2023, according to China property consultancy CRIC. [70] According to analysts, a rise in default by "shadow banks" (as trust companies are also known) with strong ties to the Chinese property sector would add pressure to the real estate ...
China’s property industry began to cool in 2019 and fell into a deep trough about three years ago after a government-led clampdown on developers’ borrowing.
China’s economy is in bad shape. ... from 25% to 15% for second-time homebuyers to support the ailing property sector, which many economists believe is the root cause of China’s numerous ...
China's long-mooted - and long-resisted - property tax is set to gain new momentum as President Xi Jinping throws his support behind what experts say would be one of the most profound changes to ...
Real estate in China is developed and managed by public, private, and state-owned red chip enterprises.. In the years leading up to the 2008 financial crisis, the real estate sector in China was growing so rapidly that the government implemented a series of policies—including raising the required down payment for some property purchases, and five 2007 interest rate increases—due to ...
The practice of land requisitions and forced evictions is widespread in China as local governments make way for private real estate developers. Under Chinese property law, there is no privately held land; "urban land" is owned by the state, which grants land rights for a set number of years. Rural, or "collectively owned land," is leased by the ...