History of condos in China

When the communists came into power in 1949, they declared that all land belonged to the state,

In 1982, during the era of Deng Xiaoping, the use of property and property rights were first included in the Constitution.

Ownership rights, under Article 39 of The Property Law of the People’s Republic of China, gives the owner the right to possess, utilize, dispose of and obtain profits from the real property. However, this right has to comply with laws and social morality. It can harm neither public interests nor the legitimate rights and interests of others.

Article 70 of The Property Law allows for the individual ownership of units in an apartment building.

Land use rights
The condo owners owns their units but only lease the land from the state. For residential uses, the lease is for 70 years. What happens when the 70 years is up? Not sure because it hasn't happened it.

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