> 90% of Chinese own their own properties

By "own" you mean 70 year leases with ??? renewal conditions?

> Urban land use rights in Mainland China were typically granted for fixed terms: 70 years for residential, 50 years for office or industrial, and 40 years for commercial purposes. As these terms approach expiration, the question of renewal becomes paramount. The legal framework, primarily the Property Law and the Urban Real Estate Administration Law, provides a general outline but leaves specific implementation to local governments.

> Mainland China’s Property Law (Article 149) and The Civil Code of Mainland China (Article 359) guarantee automatic residential land use right renewals but provides no specific arrangement in respect of non-residential terms. Currently, without detailed implementation guidelines, local governments devise varied approaches, skewing valuations and unsettling investors. This uncertainty hinders market efficiency.

https://www.cushmanwakefield.com/en/greater-china/insights/b...

But yeah, you could argue that you have to pay property taxes in USA and if you don't, you'll eventually lose your land