[photopress:National_People27s_Congress.jpg,full,alignright]China’s controversial draft property law, designed to protect both public and private ownership, is currently being submitted to the country’s top legislature for the sixth time.
The Standing Committee of the National People’s Congress (NPC) convene’s today, Friday, for a five-day regular legislative session. It is reported that the draft property law would be a key issue on the agenda.
The draft was first submitted to the legislature in 2002 and has gone through a rare fifth reading. It was withdrawn from the NPC full session in March amid worries that the draft, the country’s first specific law to protect private ownership, could undermine the legal foundation of China’s socialist system.
Drafters revised the fifth version in August to install state ownership at the heart of the economic system.
Drafters said that, in the Chinese context, the primary concern in making a property law is to comprehensively and accurately reflect China’s economic system in which public ownership plays a dominant role and diverse forms of ownership develop side by side.
It is hoped that the marathon legislative process will end next March with a vote by the full NPC session.
Source: China View