The property law of China, which had been discussed for more than ten years, was successfully passed by the Chinese National People’s Congress on 16 March 2007. It is a law in the transitional stage from typical socialistic legal system to the Chinese unique socialistic legal system. Although there are some important changes in it, we should pay more attention to the fact that it keeps a lot of things from the past. The characteristic of the property law is that it is a result of a compromise or concession among interested parties. The characteristic is bred by Chinese special culture and reflects the reality of Chinese society.