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Proposal for Special Legislation on Protection of Network Virtual Property

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It is reported that Pi Jianlong, a member of the 14th National Committee of the Chinese People\’s Political Consultative Conference and director of Beijing Jint…

Proposal for Special Legislation on Protection of Network Virtual Property

It is reported that Pi Jianlong, a member of the 14th National Committee of the Chinese People’s Political Consultative Conference and director of Beijing Jintai Law Firm, plans to submit the Proposal on Accelerating the Special Legislation for the Protection of Network Virtual Property to the NPC and CPPCC. This proposal believes that the conditions for special legislation on the protection of network virtual property are basically mature. It is suggested that the National People’s Congress should include the Law on the Protection of Network Virtual Property in the legislative plan as soon as possible and start the relevant legislative process. Pi Jianlong believes that the next generation of Internet will be the value network, while blockchain, smart contract, oracle, metauniverse, artificial intelligence and other technologies are important technologies for asset digitization. Many countries and the European Union have attached great importance to the development of virtual property and have formulated relevant laws and regulations. How to give full play to and enhance China’s international competitiveness in the field of the next-generation Internet and the new digital economy is an extremely important issue before us.

Pi Jianlong, member of the National Committee of the Chinese People’s Political Consultative Conference

Interpretation of the news:


The world is rapidly moving towards the next-generation internet, and the use of blockchain, smart contracts, oracle, metauniverse, and artificial intelligence is becoming increasingly important in the new digital economy. In this regard, the importance of virtual property is clear, as it represents the digital assets that exist within the virtual world, such as in online trading, gaming, and other such platforms.

Pi Jianlong, a member of the 14th National Committee of the Chinese People’s Political Consultative Conference and director of Beijing Jintai Law Firm, has proposed the acceleration of special legislation for the protection of network virtual property to the NPC and CPPCC. The proposal suggests that the conditions for the special legislation on the protection of network virtual property are ripe and that it is time for the National People’s Congress to include the Law on the Protection of Network Virtual Property in the legislative plan and start the relevant legislative process.

The proposal focuses on the importance of China’s international competitiveness in the field of the next-generation internet and the new digital economy. It is suggested that China must give full play to and enhance its competitiveness in this field. The proposal also highlights that many countries and the European Union have already recognized the importance of virtual property and formulated relevant laws and regulations to protect them.

In this context, the proposal to accelerate the special legislation for the protection of network virtual property in China is a much-needed step. The proposal recognizes that the next generation of the internet will be the value network, and virtual property will be an essential component of this value network. Therefore, the creation of special legislation for the protection of network virtual property will be instrumental in strengthening the legal framework for asset digitization.

In conclusion, Pi Jianlong’s proposal for special legislation on the protection of network virtual property acknowledges the vital need for such legislation to protect digital assets within the virtual world. It recognizes the significance of China’s international competitiveness in the field of the next-generation internet and the new digital economy. The inclusion of the Law on the Protection of Network Virtual Property in the legislative plan is essential to enhance China’s competitive edge in the global digital landscape.

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