China´s top legislature adopts landmark property law

Source: Xinhuanet | 03-16-2007 10:21

EDS-Adds brief introduction of the law BEIJING, March 16 (Xinhua) -- China's top legislature, the National People's Congress (NPC), adopted a landmark property law here Friday morning, granting equal protection to public and private properties.

It only took less than a minute for the nearly 3,000 NPC lawmakers to pass the much-revised bill, which had gone through a lengthy legislation process of more than 13 years and a record seven readings, by an overwhelming majority as the NPC concluded its annual full session in the Great Hall of the People in downtown Beijing.

The lawmakers applauded warmly after NPC Standing Committee Chairman Wu Bangguo announced the voting results. A total of 2,799 lawmakers voted for the law and 52 against. Thirty-seven abstained and one didn't cast vote.

The 247-article law, which is due to come into effect as of Oct. 1, 2007, stipulates that "the property of the state, the collective, the individual and other obligees is protected by law, and no units or individuals may infringe upon it".

This is the first time that equal protection to state and private properties has been enshrined in a Chinese law, which analysts say marks a significant step in the country's efforts to further economic reforms and boost social harmony.

Editor:Du Xiaodan