I love both these comments. China doesn't have private ownership. it's still communist, right?
But as defined in the textbook, communism also requires highly-developed society, where citizens not work for their living, but for their aspiration, and the society provides the consumables for people's living. And many other necessary conditions to be called communism.
Even for private ownership. If I bought a house in US, do I have an ownership? Then why I have to pay property tax and have a risk of been evicted if not do so.
It's 2017 guys. You have a whole internet of information at your fingertips. Use it, please!
https://blogs.loc.gov/law/2015/03/chinese-law-on-private-own...
I am not an expert.
Well me neither, but I certainly doubt all those Shanghainese are dropping millions on apartments that they don't even own!
And yes, real estate is leasehold, although the difference between auto-renewing leasehold and eminent domain-subject freehold seems to be a matter of semantics. The only country I'm aware of where a private citizen seemingly really can resist the ability of the state to seize their land, and thus actually does appear to genuinely "own" it, is Japan.
No, you don't have ownership. You only rent the land for 70 years, after which it returns to the government. You can 'sell your property' to somone else, at which point the 70-year lease on the land is reset for them to 0.
Strangely enough, people still buy and sell it, and live in it.
Perpetual ownership is not the only valid model of land ownership.
I do not wish to defend the CCP, but Communism is more than just "no private property", and you're wrong on the point on private property, at least coming from the Marxian sense which the Communists mean.