On March 8, the Property Law of the People's Republic of China was formally introduced at the NPC. Vice-Chairman Wang Zhaoguo told the Congress that the law will "safeguard the fundamental interests of the people", and the law is an attempt at adapting to new "economic and social realities" in China. The bill was first published in 2002. It was subsequently deferred, failed again in its reading at the 2006 National People's Congress because of a dispute over its contents, and then went through its eighth reading in 2007.