A major element of China's economic modernization has been the reform of its land tenure system and the development of its construction industry. These changes, which have accepted the principles of paying for the right to use land and profit-making by construction companies, have been dramatic. So has the attraction of foreign investors to joint ventures with Chinese companies, many of which need land and buildings. These initiatives have, in turn, generated further development of land policies and construction. This book documents the progress made in these important sectors of the economy and their potential for creating a property market, their impact on overseas companies building in China and also on the indigenous construction industry itself.