The new law "protecting" private property in Red China might be a significant development. Or it might not be. Time will tell. I understand that it still leaves legal ownership of land with the government. I'll have to read up on the lease rights that it conveys.
Fundamental philosophical change can take a generation and another generation to become solidly entrenched. [btw, a generation is about 20-25 years] The principal problem with completely relying on this "law" is that Red China is still a military dictatorship at its core. The Central Military Commission still has absolute power. Until a system of checks & balances develops, one must be wary.
But the trend is good, no doubt.