Modern Chinese Real Estate Law: Property Development in an Evolving Legal System (Chapter 1)

TL;DRAbstract

This book offers a detailed account of how the Chinese real estate market actually operates in practice, from both legal and business perspectives. My goals are twofold. First, I seek to establish and describe how the Chinese real estate market, with so few written laws, actually functions. How do real estate professionals operate on such a large scale when they are not sure what the applicable law is or how it will be applied? Second, I aim to address the broader question of how a huge nation can achieve such dramatic levels of economic development so rapidly while its legal system is still so unsettled. In what ways does China force us to reconsider the traditional model of economic growth and expansion, which assumes that legal and institutional development is a prerequisite to economic growth?\nPart I of the book, which includes this chapter and Chapter 2, offers introductory material and some background information, along with my preliminary observations and conclusions. Part II,

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