This high rate stems largely from 1998 housing reforms that privatized state-owned housing units, subsidized urban purchases, and encouraged rural self-building on allocated land.

What "Ownership" Means in China
In mainland China:
* Buildings/homes: Individuals do own the physical structure/apartment itself
* Land: All urban land remains state-owned; what people acquire are 70-year land-use rights (effectively long-term leases)
So when statistics say "90% own their homes," it technically refers to leasehold ownership, not freehold title as understood in many Western countries.

Key Details
The 70-year lease:
* Residential properties receive 70-year land-use rights
* Commercial/industrial: 40-50 years depending on use
* These rights can be bought, sold, and mortgaged like property
Renewal provisions:
* Under Article 149 of China's 2007 Property Law, residential land-use rights are automatically renewed upon expiration
* There's no guarantee on whether fees will be charged for renewal (this remains somewhat unclear in practice)
* The government has pledged these renewals happen without major disruption to homeowners
Rural vs. Urban:
* Rural land is collectively owned (not state-owned), with different usage rights arrangements
* Rural residents have stronger building rights on allocated homestead land

Why It Still Counts as "Homeownership"
For practical purposes, Chinese households treat these 70-year leaseholds as ownership because:
* They have transferable, mortgageable property rights
* 70 years covers multiple generations typically
* Automatic renewal protections provide security
* Cultural treatment mirrors true ownership (inheritance, selling, etc.)