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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.
Some press reports have characterized this law as the first piece of legislation in the People's Republic of China to cover an individual's right to own private assets, [6] although this is incorrect as the right to private property was written into the Constitution of the People's Republic of China in 2004. The amendment states "Citizens ...
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 ...
For Ouyang, and many of her economist peers, China’s property market issues raise serious questions about the nation’s ability to continue growing at the pace it has over the past decade.
In September 2011 alone, work commenced on 1.2 million units across China; a 70% increase in the construction of social housing compared with 2010 construction. [9] By 2014, Chinese builders have added 100 billion square feet of housing space in China, equating to 74 square feet per person. Construction of urban housing was a major undertaking.
China's residential property market is deeply segmented and polarised, with prices many times higher in so-called tier-one cities such as Beijing and Shanghai compared with markets in hinterland ...
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 ...
Eminent domain [a], also known as land acquisition, [b] compulsory purchase, [c] resumption, [d] resumption/compulsory acquisition, [e] or expropriation [f], is the compulsory acquisition of private property for public use. It does not include the power to take and transfer ownership of private property from one property owner to another ...