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Legal experts and entrepreneurs hailed Party General Secretary Jiang Zemin's call to better safeguard private property, calling it a boost to the development of the country's private enterprises.
Jiang said in his report to the congress last Friday that some people should be encouraged to get rich before others through honest labour and legitimate business operations, and that all their legitimate income, whether from labour or not, should be protected.
"This timely remark is essential to reassure private entrepreneurs about their future development in China," said Ding Guocong, a delegate from Wenzhou, East China's Zhejiang Province, the China Economic Times reported.
"It gives them confidence to expand their business, hire more people and create more value."
Although a general manager of a State-owned enterprise himself, Ding attached special importance to the issue of the protection of private property. "Many private entrepreneurs in Wenzhou have asked me to pass on their concern in this regard to the congress," he said.
According to him, the lack of a definite promise on the protection of private property from the Party has caused many private entrepreneurs to deliberately conceal their property, or hold back expansion of their enterprises.
"This is negative for the development of the national economy, to which private enterprises have made contributions not to be ignored," said Ding.
Yang Zhenshan, a professor with the China University of Politics and Law, called on the government to formulate rules to govern the protection.
"It is necessary for the State Council to produce a makeshift regulation guarding private property as soon as possible, in light of the fact that the formulation of a law might take a long time," Yang said.
Yang added that it should be brought home to all people that developing private enterprise was one essential mission of the socialist society in its initial development stage.
Moreover, he said such a regulation will not only keep valuable private investment in the country, but also help private enterprises grow bigger.
"It is common in many foreign countries to have a special law protecting small and medium-sized enterprises, most of which are private ones, in their competition with larger and stronger State-owned enterprises and multinational companies," said Yang.
(China Daily November 14, 2002)
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