China’s new property law takes effect

The law protects rights of both state & private owners

BEIJING: China's landmark Property Law that provides equal protection to both state and private properties for the first time came into effect on Monday. The law approved by the national legislature in March after repeated revisions is seen as a significant step in the country's efforts to further economic reforms and boost social harmony. The 247-article law stipulates that no units or individuals may infringe upon the property of the state.

“The law will inspire people's enthusiasm to create wealth and is helpful for them to fully enjoy the fruit of reform and opening-up,” president of the China University of Political Science and Law, Xu Xianming said.

To give equal protection to private property by law is in accord with the Constitution, the proposition of the Communist Party of China and people's common requests, a professor of Renmin University, Wang Liming, who participated in the legislation process of the law, said.

However, the bill had met with doubts and opposition from people who argued private property should not be levelled with state property. In response, senior legislator Wang Zhaoguo said during the parliamentary session that it will be impossible to develop the socialist market economy or to improve the basic economic system of socialism if equal protection is not secured.