China may legalise private property

The National People's Congress of China on Monday began talks on amending the constitution to provide legal guarantees for entrepreneurs.

The draft amendment suggests protection against the encroachment of private property, which was once seen as the enemy of Communism. It also suggests compensation in cases the State takes private property under its control.

If the amendment is passed, it will be the first time in the history of Communist China that capital goods, land, bank deposits and intellectual property rights are constitutionally protected.