- Published: April 2009
- Region: China
Modern Chinese Real Estate Law: Property Development in an Evolving Legal System
- Published: April 2012
- Region: Global, China
- 222 Pages
- Ashgate Publishing
With massive growth taking place in the real estate industry, how can China develop a free market and private ownership of land while still officially subscribing to Communist ideology? This study uses fieldwork interviews to establish how the Chinese real estate market operates in practice from both legal and business perspectives. It describes how the market functions, which laws are applicable and how they are applied, and how a nation can achieve dramatic economic growth so rapidly while its legal system is so unsettled.
The book demonstrates how China is drawing on the world for ideas while retaining a domestic system that remains essentially Chinese, and how the recent revitalization of China's real estate market has confounded the predictions of many developments economists.
Part I Introduction
- The excitement of modern China
- Contrasting China with the West: background history, preliminary observations and conclusions.
Part II The Operation of China's Real Estate Market
- The land use right: owning the right to use land without owning the land
- Ownership entities: who owns land and how do they own it?
- Choosing where to build: the private market and government pressure
- Demolishing existing structures, relocating current residents
- Lenders and loans: where does all the money come from?
- Preselling and reselling of residential units
- Commercial construction and commercial leasing
- Infrastructure: building and paying for roads, bridges, subways, and airports.
Part III Law and Development in China
- China's other 'other path': confounding the predictions of development economics
- Harmonizing law and development theory with China's actual progress.
Part IV Conclusion
- Will the miracle continue?