On March 2004, China speculated 'Protection of Private Property' representing socialistic market economic structure by approving amendments to Constitution Law. China reported that it is under consideration of reviewing Draft of Chinese Real Rights Law to embody private property system in Chinese National People's Congress in March, 2006 according to the amended Constitution. In this paper, I reviewed nature and feature of The Real Rights Law focusing the chapter of General Provisions in the context of the Draft of Chinese Real Rights Law which is issued lately in order to understand contemporary Real Rights Law of China. The Draft divides into the ownership and the limitation real right and it recognizes the real right as independent position. Also it recognizes the possessory right as the independent real right. The Chinese Constitution and the Draft emphasize the principle of socialistic market economic realization and the principle of the protection of private property. Moreover it selects the principal of public notification and formalism. Besides it recognizes clearly the real actions about the protection of real right and it eliminates the application of extinctive prescription from the real actions. But, it shows the limit of legislation because it prescribes the civil liability, the administrative measure and the penal responsibility for the protection of real right.

On March 2004, China speculated 'Protection of Private Property' representing socialistic market economic structure by approving amendments to Constitution Law. China reported that it is under consideration of reviewing Draft of Chinese Real Rights Law to embody private property system in Chinese National People's Congress in March, 2006 according to the amended Constitution. In this paper, I reviewed nature and feature of The Real Rights Law focusing the chapter of General Provisions in the context of the Draft of Chinese Real Rights Law which is issued lately in order to understand contemporary Real Rights Law of China. The Draft divides into the ownership and the limitation real right and it recognizes the real right as independent position. Also it recognizes the possessory right as the independent real right. The Chinese Constitution and the Draft emphasize the principle of socialistic market economic realization and the principle of the protection of private property. Moreover it selects the principal of public notification and formalism. Besides it recognizes clearly the real actions about the protection of real right and it eliminates the application of extinctive prescription from the real actions. But, it shows the limit of legislation because it prescribes the civil liability, the administrative measure and the penal responsibility for the protection of real right.

protection of private property, socialistic market economic structure,the Draft of Chinese Real Rights Law, real actions, possessory right, extinctive prescription