Chinese top legislator Wu Bangguo said in Beijing Monday that the country's first ever property law should offer equal protection for state, collective and private properties.

At a symposium held here Monday to comb suggestions from nationwide on the draft law, Wu said the coming law should reflect China's basic economic system that holds public ownership as the main body and encourages the common development of different ownerships of economies.

The law should also target existing problems to ward off troubles like loss of state assets, he said.

"We may introduce useful regulation from western laws and should never blindly copy them," said Wu, chairman of the Standing Committee of China's National People's Congress (NPC).

China's property law, he said, should be designed to form a property system that conforms to China's concrete situations.

To date, NPC has received more than 11,500 letters from the masses, together with suggestions and proposals from various localities, large companies and law study institutions.

Source: Xinhua