Iron ore price, page-393

I think the best analogy i can make to explain it is how we have Leasehold and Freehold in Australia?

and in situations where government wants to buy your land and rebuild - no it is not "good night" lol. Again, sorry I really don't like it when people make that kind of statement without any real examples backing it up. What happens (and happened in the past and I can vouch for two family properties in two major cities in China) is with a lot of the old properties and areas, govt will buy out your property at a price per square meter. Usually prices are very good, and you can use the money to buy another place or sometimes they offer you a another apartment in a different area (the size varies of course depending on the area of your original place and size). But this kind of old-area revamp is how a lot of the Chinese managed to live new places and accumulated their initial wealth. This could be bought out by the government or a private developer. Similar things also happened to residents in Shenzhen, Zhuhai when they were designated special new area.

More than 10 years ago, when this first started in Shanghai, there were some major corruption within the local govt and tried to buy out a lot of the existing residents at a really low price. It became a major case because it eventually blew up and Central govt sent over a special investigative team and cleaned it all up and people were paid out properly. I am telling you this because the family house my dad grew up in was getting bought out during that period of time. Chinese govt don't just show up and confiscate your land or house lol....