In 2003, the Chinese government made many efforts to improve its Legal System. Firstly, the Standing Committee of the National People’s Congress (NPC) unanimously adapted the amendment to the Constitution of the People’s Republic of China (PRC). The next is the Marriage regulations which have been remodeled as to that the couples only need to submit their Id cards and sign a document that they are not married. The National People’s Congress (NGC) represents the people in exercising state power. The People’s Congress maintains and creates all the administrative and judicial units at every level of the government. The judiciary institutes and supports public prosecution in criminal cases. The basic people’s courts are more than 3,000 in the country level. Among these 20,000, subdivisions are made where these units work for the tribes, people who live in villages and small towns. It even has a number of specialized courts for example the forest affairs, transportation, People’s Liberation Army (PLA) and maritime issues. The Chinese Legal System is based on Confucian Philosophy. After the revolution of 1911, China adopted the German code of civil law and most of the Chinese Socialist Legal Systems was adopted from the Soviet Union. To fuel the economic growth, China has made many improvements in creating a modified version of its legal system.

Chinese Property Law: China respects the first stage of socialism where public ownership is given higher priorities with other kinds. But as the country’s economy is dependent on the private investments it is important to focus on the protection of the lawful properties which are gained through hard work. The security of the lawful properties of an individual has to be done by the government itself. The government thus respects and protects the farmers’ rights and look further for privatization of rural lands. The law also includes the creation and the transfer of the property. The individual law to own private assets has to be sanctioned so that land and other private properties would be owned without discrimination of any individual. The property types are classified into state, collective and private and the property rights are of three types – security rights, ownership rights and user rights. The Chinese Property laws have been designed in such a way that after an individual owns a property he would be examined whether he is a genuine citizen or so that there would not be any further disturbance or problem created by him. As China is a communist country the rules and regulations which we come across are totally different from those in the United States. The investments in the country are done on companies only after viewing its economic and financial details and their positions in the Stock Market. Most of the rules and regulations in China are laid down by the Hong Kong Stock Exchange and the Shanghai Stock Exchange, which is similar to the U.S. Securities and Exchange Commission. Investments should be in compliance with the “Provisional Regulations on Guidance of Foreign Investment Direction”. The approval of the investment would differ according to the category of the investment that is being done. The investors should provide and submit all the required documents before they invest like name and address, registered capital, amount and form of investment, etc. The international investments would provide good results. It was often seen even after the Chinese government has warned many banks not to give loans to individuals or companies for purchase of stock, many borrow money to invest in Chinese markets. China has seen a rapid growth in its economy in the recent years and with more investors entering Chinese soil, the economy is expected to bloom even more. The only risk of investment is that China being a communist country, the government can wish to own back and control those companies which were once under the management of the government.