December 2002, the law was deliberated for the first time by the NPC Standing Committee.

2004, the revised Constitution added an article on private property, which stated, "Citizens' lawful private property brooks no violation," to replace the original statement that read, "The state protects citizens' lawful income, deposits, housing and the ownership of other lawful property."

July 9, 2005, the Standing Committee of the NPC published the full text of the third draft of the Property Law on its website to solicit public comment. More than 10,000 suggestions were collected from the public as a result and the NPC Standing Committee also hosted more than 100 meetings to collect opinions from economists, law experts and the public.

October 2006, the NPC Standing Committee reviewed the Property Law for the sixth time, making it the most-deliberated law in China's legislative history. In December 2006, lawmakers reached consensus on the seventh version of the draft law at a regular session of the 10th NPC Standing Committee.

Comparing the Sixth and Seventh Drafts

On state property

The sixth draft: "What are regulated as state properties by laws and administrative regulations belong to the state or the whole people."

The seventh draft: "What are regulated as state properties by laws belong to the state or the whole people."

On collective property

The sixth draft: "The ownership of movable and immovable properties of township collectives applies to stipulations in laws and administrative regulations."

The seventh draft: "Members of the township collectives enjoy the rights to hold, use, benefit from and dispose of the movable and immovable properties of the township collective according to stipulations of laws and administrative regulations."

On farmers' residential land

The sixth draft: "With permission of the collective, the using rights holder of rural residential land can transfer the legally built housing to households of the same collective. The transfer of using rights of residential land happens with the transfer of the housing. Township and city dwellers are forbidden to purchase farmers' residential land."

The seventh draft: "The procurement, exertion, and transfer of using rights of rural residential land apply to regulations of laws and regulations, such as the Land Administration Law."

On the rights of co-owners of high-rise multi-story buildings

The sixth draft: "In construction layout, car parking spaces and garages should first meet the demand of co-owners. Unless there is a clear agreement between the parties on the ownership of parking spaces and garages, they belong to the co-owners."

The seventh draft: "In construction layout, car parking spaces and garages should first meet the demand of co-owners. In construction layout, the ownership of parking spaces and garages is to be agreed between the parties through sale, rent or giveaway. Parking spaces built on the road or land co-owned by property owners belong to the co-owners."

On protection of properties of different entities

The sixth draft: "The state practices a socialist market economy." "The state, collective and private property rights are protected by law, and brook no violation of entity or individual."

The seventh draft: "The state practices a socialist market economy and guarantees the equal legal status and development rights of all market entities." "The state, collective and private property rights, and property rights of other obligees, are protected by law and brook no violation of entity or individual."

On security rights

The sixth draft: "The pledge of the right to collect toll from a road or a bridge and the account receivables can be mortgaged."

The seventh draft: "In the case of the mortgage of account receivables, the right of pledge takes effect after the pledge contract is registered with a credit agency or a credit reporting agency."