China Ends NPC Session, Approves Property, Tax Laws

中国人大会议结束，批准物权法及税法

China's legislature has passed a landmark bill on property rights, and revised a tax law to eliminate preferential rates for foreign companies. The annual meeting of the National People's Congress ended Friday with passage of the two significant laws.

The hotly-debated property legislation effectively grants private property the same status as state-owned property. However, it stops short of privatizing collectively-owned rural land, and says the state remains the "leading force" in the ownership of property.

The property law has been debated for 13 years. Party hardliners have long said it would undermine the basic tenets of socialism. But supporters argued the bill reflects the economic realities of today's China.

The new tax law equalizes the tax rate for foreign-financed companies with Chinese businesses at 25 percent.

中国的立法机构通过了具有里程碑意义的物权法，同时修改了企业所得税法，取消了外国公司的优惠税率。全国人大年度会议在通过这两个具有重大意义的法律后星期五结束会议。

引发激烈辩论的物权法实际上给予了私人财产同国有财产平等的地位。但是，物权法没有将集体所有的农村土地私有化，并表示国家依然是地产的“主要持有人”。

物权法经历了13年的辩论。共产党内的强硬派一直认为，物权法会动摇社会主义的基本原则，但是支持者说，物权法反映了当今中国的经济现实。

新的企业所得税法将向外国公司征收与中国公司相同的25%的税率。