BEIJING — When Xiaobo Zhang got married in the early 1990s, he and his bride, like millions of other couples across China, were given a small room to live in by his danwei, or work unit. At the time a lecturer at Nankai University in Tianjin, Zhang’s room was utilitarian and unremarkable, virtually indistinguishable from the ones inhabited by his colleagues. In a word: average.

In the China of the 1990s, which was characterized by a pubescent limbo between the economic reforms of the 1980s and the last decade’s explosive growth, Zhang recalls that mostly everyone was average. People were neatly packed into work units, generally laboring under the same conditions, eating in the same canteens, and sleeping in the same blocks of industrial-looking housing provided by their employers. There was little disparity in salaries, and few cars and luxury handbags to spend those salaries on.

During these times, Zhang explained, occupants paid minimal rent for their work-unit housing — which was issued based on seniority, family size, and rank — and could essentially stay in it forever. There was no legal market for buying and selling property in China, even in rural areas without employer-provided housing, where families built their own […]