> The answer is yes, foreigners are allowed to purchase property in China! The essential requirement is that you have studied or worked in China for at least one year on a residence permit. Foreigners are allowed to only own one residential property for dwelling purposes. You may not rent out the property or act as a landlord. Requirements and restrictions may differ in different provinces and cities. For example, Shanghai requires that non-Shanghai hukou families, including foreigners, have to provide proof of income tax or social insurance to the local government.

http://anychinavisa.com/news/can-foreigners-buy-a-house-in-c...

So to be more precise what you actually can't do is speculate in Chinese real estate.