Caijing magazine has reported that the Standing Committee of the National People’s Congress has met to begin drafting a law protecting private property. At the annual meeting in March, the NPC amended the constitution to include private property rights. According to Caijing, “The 55-page property rights draft contains 297 articles divided into 22 chapters in five parts. It addresses controversial social issues, including farmers’ contracted land use rights protection and ownership disputes between house owners and realty management companies. It stipulates, for example, that farmers’ contracted rights of land use can be transferred, leased, swapped or sold. Analysts say the new legislation, if it is passed, will serve as a powerful legal guarantee for protecting individual property rights. ” The full English version of the article is here.
Law on Property Rights Being Drafted
Posted by Sophie Beach | Nov 5, 2004