Most NPC members satisfy with the draft property law

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Source: CCTV.com | 12-26-2006 09:16

Members of the Standing Committee of the National People's Congress discussed a draft Property Law on Sunday. Most members are satisfied with this version of the draft, and expect it to be considered at the full session of the NPC in Spring.

Members said the draft law reflects the basic principle of the Socialist economic system, and are in line with the fundamental interests of Chinese people.

It also provides solutions for urgent questions.

Zheng Gongcheng, NPC Standing Committee member, said, "the law has been made much clearer, and can be used as a guide for us to deal with current property rights issues. I am personally optimistic that the law can be considered and approved at the Plenum next year."

The new version of the draft clarifies property ownership an area that had been ambiguous.

It also highlights property ownership of township and village enterprises.

Chen Xiaoyan, NPC deputy, said, "Property law is very useful and creates an environment where all businesses can compete fairly and equally. Small and private businesses are clear about property ownership. That will definitely promote their business interests."

The Standing Committee will vote at the end of this month to decide whether the draft can be taken to the full session of the NPC in Spring, for final approval.

The debate over the Property Law has gone on for the last thirteen years, and this is the seventh reading of the draft -- a record high. Approval of the law is also considered a symbol to judge the country's determination on its reform and opening policy. It's hoped the time is near when 'draft' will be removed, and we can just start calling it a law.

Editor:Du Xiaodan