China has seen a massive increase in the living standards of its people since reform and opening up. Housing reforms, which began in the late 1970s, played a critical role in this transformation. AND, one man stood at the center of it all. This is his story.

Born nearly a century ago, now at 95 years young, Li Qingfu enjoys the tranquility of this community in Guangzhou called Donghu Xincun. It's a place he's called home for nearly 40 years. Mr. Li is the catalyst of what eventually turned into an over 1 trillion dollar industry, sparking open China's private residential property market.

LI QINGFU, FORMER DEPUTY DIRECTOR BUREAU OF HOUSING & URBAN-RURAL DEV'T DONGSHAN DIST., GUANGZHOU "The construction of Donghu Xincun began in December 1979, and was completed in 1982. We achieved three FIRSTS with this project. It is the first commercial residential community in China since reform and opening up. It's the first to draw in foreign investment to construct the residential community and the first to engage in modern property management. Before reform and opening up, there was no such thing as a commercial residential building. People lived in public housing provided by the state or most rented directly from the government."

It was an uphill battle for Li Qingfu to break ground for Donghu Xincun. He and his team had little to no prior experience and resources were limited. And Mr. Li faced personal criticism over the project as well.

LI QINGFU, FORMER DEPUTY DIRECTOR BUREAU OF HOUSING & URBAN-RURAL DEV'T DONGSHAN DIST., GUANGZHOU "We encountered land-use issues. The plot of land initially intended to build the community was not large enough. However, then First Party Secretary of Guangdong Province Xi Zhongxun and Second Party Secretary of Guangdong Province Yang Shangkun helped us to resolve these land-use issues."

"Out of the 10.8 million RMB invested in the residential community, only 2 million was allocated to building up the utilities infrastructure. Investors from Hong Kong required that upon project completion all complexes within the community had to be equipped with tap water, electricity, and telephone lines."

"We didn't know how to do property management. So we were invited by our partners to Hong Kong to learn about it. In 1980 we drafted our own property management rules based on what we studied from Hong Kong and adapted it to local conditions. We put in place security guards, cleaning, and maintenance crews – all of which we've never had before."

"A government official at the municipal government even argued that if a foreign company invests in Chinese land, doesn't that mean selling land to foreigners? He questioned if this was a treasonous act. But the people supported us because they wanted better living conditions."

Prior to reform and opening-up, the average living space was just 3.82 square meters per person in Guangzhou. Multiple family members were not just living under one roof but in one room.

LI QINGFU, FORMER DEPUTY DIRECTOR BUREAU OF HOUSING & URBAN-RURAL DEV'T DONGSHAN DIST., GUANGZHOU "In the most unfavorable conditions, three generations were living in one room or even on the same bed. As for my own family, 11 of us lived in a 42 square meter apartment from the 1960s to 70s, including three babies. It's very common that 10 to 20 families shared one kitchen and one communal bathroom. Before Donghu Xincun, this whole block never had any electricity or sewage system. People were still using oil lamps or candles."

Surmounting steep challenges, Li Qingfu and his team ushered in a new era for China's living standards. The standard living space per person in China now stands at over 6 times the national average in 1978 and nearly 11 times what Guangzhou saw in the late 1970s. China now has one of THE highest home ownership rates in the world at 90%, that's versus 69% for the EU and 64% for the US. The country is also by far the global leader when it comes to millennials owning their own homes. China's millennial home ownership rate stands at 70%, that's 30 percentage points higher compared to the world average.

MICHAEL WANG DONGHU XINCUN, GUANGZHOU "The opening of the country's housing market has not only led to a significant jump in the living standards of Chinese families, but also stimulated economic activity in both upstream and downstream industries from steel and cement to home appliances, and financial services."

Although there are new challenges facing China's property market, Donghu Xincun's contributions to the country's economic renewal since reform and opening-up cannot be denied.

LI QINGFU, FORMER DEPUTY DIRECTOR BUREAU OF HOUSING & URBAN-RURAL DEV'T DONGSHAN DIST., GUANGZHOU "Donghu Xincun was a huge success. We listed two of the first six buildings in Hong Kong in November 1981 – they were sold out within half a day. One-third of the apartments were used to resettle those with poor living conditions. Other communities saw our success and began to copy our model. Now I see cities across the country dotted with tall buildings, and Donghu Xincun was at the start of it all. This community helped promote the concept of commercial property throughout the country, it kicked-off the real-estate market that we are seeing today."

China has gone from three generations in one room, under a state-allocation housing system to now market-driven policies supporting "smart" residential communities such as this one: The Sino-Singapore Guangzhou Knowledge City, which is just about an hour's drive away from Donghu Xincun.  Li Qingfu and the community he helped to build were at the very forefront of China's reforms and housing transformation. He's one of the lucky few who's not only lived through history but, indelibly made its mark on it as well. Michael Wang, CGTN.