Lawmakers decide to submit draft property law for final approval

Source: CCTV.com | 03-13-2007 16:12

Chinese lawmakers have decided to submit the revised draft property law for final approval at the NPC annual full session. Legislators agree that enacting the property law is significant in upholding the basic socialist economic system to regulate the socialist market economy and to safeguard people's immediate interests.

The draft property law grants equal protection to state and privately owned property. Many NPC deputies and CPPCC members say the law comes at the right time.

Deng Wei, CPPCC member, said, "The new law will bring about democracy and the rule of law will be strengthened. It will result in equality and justice. More work, more pay, is the best way to show that."

The draft property law is being deliberated by nearly 3,000 lawmakers at the NPC annual session which began a week ago. More than 60 revisions have been made to it. It was originally submitted to the NPC Standing Committee in 2002 after nearly 10 years in preparation.

Civil law experts say it is the demand of the market economy to give different property owners equal protection.

Professor Yang Lixin, Renmin University, said, "Currently, there are few provisions about Property rights and neither are they systematic."

Sun Xianzhong, Chinese Academy of Social Sciences, said, "More than half of China's social assets are privately owned which should not be ruled by the Administrative Law."

It is expected that lawmakers will vote on the draft property law this Friday, when the NPC session concludes.

Editor:Du Xiaodan