Article 6 People's Republic of China (PRC)'s socialist economic system is based on socialist public ownership of the means of production, that is, ownership by the whole people and collective ownership by the working people. Socialist public ownership eliminates the system of exploitation by others, and implements the principle of distribution according to work and from each according to his ability.
This clause is the definition of public ownership in the highest legal sense. Thus, the highest legal authority's explanation of the concepts of public ownership and public funds can be deduced:
Public-state-owned and collectively owned by the working people.
Public funds-state-owned funds and collective funds owned by working people.
Public fund scope reference
Two characteristics of public funds
(1) All ownership is public; (2) Currency or special currency.
The relationship between state-owned and public-owned
State ownership is a subset of public ownership, which includes state ownership and collective ownership of working people.
Temporary ownership
Paragraph 2 of Article 91 of the Criminal Law stipulates that "private property managed, used or transported by state organs, state-owned companies, enterprises, collective enterprises and people's organizations shall be regarded as public property."
The essence of this provision is that the property ownership has been transferred at the same time as the property transfer, and its legal basis is the relevant laws and regulations of the state or the relevant contracts reflecting the loan relationship.