The Chinese Property Law, enacted in 2007, changed the country's property rights from public to private, providing equal protection for all properties. It breaks from the traditional view favoring public ownership. The law sets out rules for creating, changing, and ending property rights, focusing on protecting private property in a nation where state ownership is prominent. The unique land use rights system separates land ownership from actual use in China. The challenge lies in enforcing the law effectively, especially regarding public ownership and compensation issues, like the Nail House situation where fair compensation for property taken is a concern. In essence, the Property Law in China aims to bolster private property rights, with a critical need to ensure proper enforcement to protect them adequately.