It can be seen from the chart that there havebeen dramatic changes in the ownership of housesin China in the past 50 years. While the percentageof state-owned houses has dropped from 70% in1950's to 20% in 1990's, that of private houses hassoared from 30% to 80% during the same period oftime.
A number of factors could account for thechange in the chart, but the following are the mostcritical ones. First, thanks to the policy of reform and opening-up, the nation's economy hasbeen developing at a considerably high speed in the past decades. Therefore, people have moreextra money to improve their housing. Secondly, other relevant state policies and the boom ofreal estate industry provide citizens with more opportunities to choose their own dwellingplaces. Last but not least, people have attached greater importance to their quality of life. Thusmore of them have purchased houses in their own favor.
In a word, this chart is a perfect index of China's fast expanding economy and people'srising standard of living. Although a series of problems have arisen in the process, it isreasonable for us to believe that they can be solved in the near future with effectivemeasures taken by both the government and the public.
