The Compatibility of Market System and Public Ownership: A View from Property Rights

The traditional public ownership in China is not compatible with market economy. The basic socialist economic system which was formed in the process of market reform in China with the public ownership as the main body developing together with other ownerships produced the multiple property right body. And the further distinguishing of public ownership from the realization mode of public ownership has established the status of state-owned enterprises as the legal body and the independent subject in the market economy, which makes the compatibility of public ownership with market economy possible.