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This study analyzes the processes of transformation & the progressive formalization of Chinese law, particularly private & company law, which have taken place since the beginning of the reform-and-opening process in 1978. The paper begins by emphasizing the large-scale rehabilitation & strengthening of all legal matters in line with the modernization & economic development of the country. The substantial indifference of ideology is therefore highlighted, notably in a power systems which would like to but is unable to remain unchangeable. Westernization & globalization of the rules, particularly in the field of international trade, are two other important factors to be considered in the context of a country which was once so averse towards a formalized legal system so different to its own but which now is undergoing inevitable legal harmonization. The transformation of China from a country without jurists to one teeming with lawyers & law graduates & the central role undertaken by private law, currently in the process of codification, in a system which for a long time had traditionally disregarded it, are two aspects which could well be described as revolutionary, if not historic. As in other countries in transition from a state-controlled economy to a market economy, from monopoly to economic pluralism, the settlement of disputes has undergone radical transformation, with the traditional preference for conciliation giving ground to formal litigation. The central part of the study focuses on three institutions considered to be highly indicative of the above mentioned transformations: property, in the framework of the revived category of real rights; contracts, which have been defined & are regulated along the lines of Roman law; & enterprises, particularly in its collective forms (company), in relation to which there still exists a normative dichotomy between entirely state-owned companies & companies with foreign share-holdings, a feature which can no longer be found in any other former socialist countries except Cuba & Vietnam. Lastly, the study reiterates the importance for future development of the Chinese legal system, & not only in the field of international trade, of the entrance of the PRC in the World Trade Organization. Adapted from the source document.