Wang Shengming, deputy director of the NPC Law Committee:

The law will consolidate and facilitate the development of the public sector by clarifying the scope of state and collective property, and the functions of State and collective ownership. It will strengthen the protection of State property. It will also encourage and guide the development of the private sector as it clarifies the scope of private property and protect it in accordance with various laws.

Yin Tian, professor at Peking University:

The law is a necessity to regulate the market within a socialist market economy, which is stipulated in the Constitution. The draft law stipulates the principle of equal protection, which is in line with the nature of the market economy and in adherence to the Constitution.

Fair competition, equal protection and the survival of the fittest are the basic principals of the market economy. All players have equal status in the market, enjoy the same rights, observe the same rules and bear the same responsibilities.

If the different parts of the market are not provided equal protection, it will not be possible to develop a socialist market economy.

Wang Liming, law professor at Renmin University of China:

Equal protection for State and private property will help improve China's market conditions and promote fair competition and the survival of the fittest. Only by practising equal protection can the country adhere to its basic economic system. The people won't allow the country to grant different protection to State and private property. But the law will not protect property seized through illegal methods.

Li Guoguang, deputy director of the Consultation Committee of the Supreme People's Court:

To prevent the loss of State property, the draft strengthens the protection of State-owned property from different angles.

It also gives full and accurate expression to the basic policies of the Party in rural areas at the present stage and protects the profits of rural residents. It addresses the most urgent problems, coordinates all kinds of interests and promotes harmony.

Source: China Daily