Is the Chenguang Building in xinqiao town, Jiangyin a commercial house?

Yes Official website of Jiangyin Housing and Urban-Rural Development Bureau shows that Chenguang House in xinqiao town is a commercial house with a property right of 70 years. Commercial housing rose in China in 1980s. It refers to the houses developed by real estate development and management companies (individuals and foreign companies) with the approval of relevant government departments, which have obtained land use rights for 40, 50 and 70 years from government agencies. After completion, it will be used to sell leased houses in the market, including houses, commercial houses and other buildings.