The draft of China's long-awaited property law will be further revised ahead of another discussion by the country's legislators, said a senior legislator Tuesday at a seminar.

"The revised draft should attach great importance to the protection of State-owned assets, prevention of asset losses and guarantee of farmers' rights," Sheng Huaren, vice-chairman of the Standing Committee of the National People's Congress (NPC), was quoted as saying by Wednesday's China Daily at the seminar.

The two-day seminar, which concluded Tuesday, invited officials from central government departments and scholars for advice on the draft.

Property law, a basic law that supports China's legal system, is of vital importance, said Sheng.

"The law concerns the basic economic system and residents' vital rights. We must draft a good version," he said, who urged the drafters of NPC organs to further revise the law draft ahead of submission to future Standing Committee sessions for further discussion.

Source: China Daily