On March 16, the Chinese National People's Congress passed the P.R.C. Property Law. The full text of the law is available on the P.R.C. government website, and commentary and analysis is available from Xinhua.
The above Xinhua link has gone dead (as of April 1), but it and the pages to which it refers are still available through the Google cache.
An English translation of the Property Law is available from Lehman, Lee, and Xu.