China’s leaders are pondering how to solve a simmering problem which is increasingly worrying the country’s home owners – what to do when decades-long private leases on land expire.
All mainland Chinese land is state-owned, but use rights for periods ranging from 20 to 70 years have been granted since the 1990s.
The low end of that range came to national attention in April, when the eastern city of Wenzhou told local homeowners who held 20-year usage rights that they had to pay a third of their homes’ value to renew them.
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