Property Right Protection Key To Invigorate Economy

Renowned Chinese economist Li Yining has reiterated the key role of property rights protection in motivating investors and invigorating the economy.

"We should provide equal legal protection to all kinds of property rights, be they public or non-public, tangible or intangible," Li said at a forum in Beijing Saturday.

He stressed that the country should seek new dividends from new systematic reforms, and that property rights protection reform is a key in the process.

Although China has been gradually improving property rights protection, incidences of infringement on private assets and illegal seizure of non-public assets still occur.

Recognizing this flawed system has undermined the confidence of private investors, China's central authorities last month issued property rights guidelines seeking to ensure uniform legal protection for all kinds of property rights for all individuals and entities.

Li said a slew of reforms will inject new momentum into China's development.

China's GDP grew 6.7 percent in the third quarter of this year, steady with the first half of the year and within the government's target range between 6.5 and 7 percent for 2016.

Source: Xinhua