Yes, however this is true for a lot of countries besides China. Most factories, headquarters, and office buildings are leased out for X amount of years so that the company can get a return on their investment from building the building. Then the host country gets a free factory when the lease is up if it is not renewed.
Oh so basically at the end of the day the foreign capitalists can set factories there but the state still owns the land?
Yes, however this is true for a lot of countries besides China. Most factories, headquarters, and office buildings are leased out for X amount of years so that the company can get a return on their investment from building the building. Then the host country gets a free factory when the lease is up if it is not renewed.
Noted