Better protection of property rights
Print Edition
CHINA yesterday released a guideline on better protection of property rights in an effort to shore up social confidence and promote social justice.
It is the first time China has issued a guideline at state level on protection of property rights.
The country will provide equal, comprehensive and law-based protection to all kinds of property rights and encourage the participation of the public in the process, says the guideline issued by the Central Committee of the Communist Party of China and the State Council.
Major problems concerning property rights must be solved to increase protection and build a long-term mechanism. Although China has worked to protect property rights, there are still many problems, including infringement on private property by public power and weak protection of intellectual property rights.
Secure property rights “raise people’s sense of wealth security, boost social confidence, foster positive expectations and raise the impetus for entrepreneurship and innovation by various economic entities,” according to the document.
Protection will also boost social justice while maintaining healthy economic and social development.
China will further clarify the relations between owners and managers of state-owned property, and push for equity diversification of state-owned enterprises and modern corporate governance of those companies, the document says.
State-owned enterprises should improve internal supervision, ensure their boards operate within the law and better supervise their managers, the document states.
The guideline highlights equal protection of property rights for various market entities, while pledging to enhance protection of non-public properties according to the criminal law.
Property right cases that remain unresolved due to historical reasons should be dealt with appropriately, the guideline states. An accountability system will be implemented to guard against improper court decisions.
Law procedures should be elaborated concerning the disposal of property belonging to enterprises or individuals that are suspected to be unlawful.
The document stresses that law enforcement officers should take a prudent attitude toward applying different degrees of judicial policies to property rights and economic disputes. The presumption of guilt principle should be banned.
Mechanisms to ensure governments of all levels are trustworthy should be improved and officials should be severely punished for breach of contract.
Regulations on expropriation of property should be improved. Compensation should be fair.
The guideline also pledges to intensify protection of intellectual property rights.
Fostering a sound social environment for property right protection is important, the document adds.
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