Property Rights and China's Economic Development

The nature of market transactions is the change of the main property rights, the core system of market economy is the property right. In 1960, Coase pulished “The Problem of Social Cost”,it inspired economists’ enthusiasm to property rights, and summarized the coase theorem. Clear property rights is the precondition of the market, and to define property by the government ofen has scale economy and violence advantage. Property rights include real rights and human rights, The real right is the derivation of human rights. Clear property is the real power to promote social and economic development, and the goals of social and economic development is development and improvement of the property.