China to improve legal protection for property rights

China will improve legal protection for property rights to shore up social confidence and stability, according to an official statement released Thursday.

The government will offer comprehensive and equal protection for public and private owners of property, equities, obligatory rights, intellectual property rights (IPR) and other intangible property rights, according to the guidelines passed by the central leading group for comprehensively deepening reform, which outlined ten detailed measures.

China will further define the relations between the owners and managers of state-owned enterprises and remove unreasonable regulations and other barriers against non-public enterprises.

The government will improve the legal system for equal property rights protection and properly handle unsettled disputes.

Meanwhile, China will improve legal procedures regarding property disposal and take a prudential manner in differentiating property-related disputes and crimes in line with the law.

The government will improve the system for expropriation of private property, ensuring standardization of procedures and sufficient compensation.

More efforts will be taken to protect IPR including raising penalties for IPR infringement and reducing the costs of protecting one's IPR, according to the statement. Endit