It's actually a pretty brilliant policy that strikes a good middle-ground between giving individuals stake in the country without losing sight of the public interest to maintain control of land ownership.

This sort of combination between state control and individual ownership is vastly preferable to the patrimonial wealth acquisition in the US, which gives private interest groups extraordinary power at expense of both individuals and society at large, and it's an effective mechanism against generational inequality and it avoids creating a society dominated by heritage.

The claim that chinese citizens had no way of gaining wealth is fundamentally false and kinda absurd. If you look at chinese consumer spending for the last decade it's been growing at 6-8% annually, are you saying all that spending is done by only CCP officials?