>>421312890% of land in Israel is state owned and leased, are they socialist?
Also you're wrong, Urban soil was privatized starting in the 2000s, generating a massive transfer of public->private wealth. Urban land in China generally operates in a way that is entirely analogous to any capitalist country; people acquire the "right of use" of the land and can do with it as they please, including speculating. And they do speculate with land in China on their huge real eastat market. That's why Chinese themselves admit they have a big private sector now.
Rural land which is private had many more use restrictions, and this divergence was one of the reasons of China's rural-urban inequality starting from the late 90s.