This sentence just wants you to understand how good our socialism is.
If resources are socialized, everything can be used. The product (currency) you create with social resources is your own labor income, and everyone can do it. So in socialist countries, everyone enjoys happiness.
Then compared with western private ownership countries, they privatized the means of production, that is, a few people have the right to use the means of production, while most people have no right to get their hands on it. So in capitalist countries, only a few people enjoy the benefits.
This is all bullshit. Haven't you noticed that farmers have the hardest time in rural areas and workers are the worst in cities? In this country led by the working class and based on the alliance of workers and peasants, workers and peasants are the bottom of society.
"Resources belong to the whole society" actually means that resources belong to the country. The state refers to the authority that exercises state power and manages state affairs, that is, the government and its subordinate institutions.
"Resources belong to the whole society" means that all resources belong to the government, and subconsciously means that resources are officials. Only officials have the right to use social resources, and only those privatized resources can be used by the people in the form of value exchange. So China's "socialization" is untrue. Socialization in China is bureaucratic, resources are in the hands of the authorities, and a few bureaucratic classes are privatized.
China is still a country with private ownership, but China's slogan of socialization is no better than western private ownership.
So, what your teacher said is incorrect. This sentence is just the ruling slogan of the producer of * * *, which is false propaganda.