China's top legislative body has completed a draft of the nation's first legislation on tangible property, a vital move to better protect private property.
"A property law will offer the most complete, effective and timely protection to properties," said Wang Shengming, director of the Civil Legislation Office at the Legal Affairs Commission of the National People's Congress (NPC) Standing Committee.
The draft has devoted a whole chapter to private ownership, he said.
Wang said the draft legislation will offer a more complete protection on property because it has also made usufruct provisions, which is the right of using and enjoying the profits of an estate or other items belonging to another, without destroying its substance.
Complete legal protection of private property is formed on the basis of property law with the support of other related legislation, including the Constitution and Contract Law, said Wang, who has participated in the drafting.
Private property is owned by individuals, self-employed laborers, solely funded enterprises, private firms and co-partners.
The 1986 General Principles of Civil Law, which is a basic civil law for the nation, clearly stipulates the protection of private property owned by individuals.
The State Council - China's cabinet - issued an administrative regulation on private businesses in 1988 to rule on the establishment, operation and liabilities of solely funded enterprises, private companies and partnerships.
"Related laws were not in place at that time because the private sector was rather weak back then and the NPC Standing Committee decided to empower the State Council to work out regulations for a trial and accumulate experiences for national legislation," Wang said.
The top legislative body devised Company Law in 1993, Partnership Law in 1997 and Law on Solely-funded Enterprises in 1999, replacing the State Council's regulation on private enterprises.
The draft legislation on property law, which Wang says is the core legislation for property protection, is expected to be submitted to the NPC Standing Committee within a year for a preliminary reading.
A draft law is able to be put to a vote after three rounds of deliberation under normal circumstances, according to the nation's Legislative Procedure Law.
(China Daily November 22, 2002)
