Abstract:  During the early period after the founding of the PRC, the private capitalist economy gained development instead of being restrained or eliminated due to its benefits to national economy and people′s livelihood. Respecting, protecting and promoting individual economy and private capitalist economy which carry the content of the private rights was a critically precious step in exploring the right road to the transition to socialism. The activation of “private” elements by developing capitalist economy, cooperative economy and individual economy was the concrete embodiment of acknowledging and endowing all types of subjects with private rights. During the political revolutionary process from the new democratic society to socialist society, freezing out and depriving private rights was not destructing social objects but a type of reform. In the new historical period and development phase, respecting social subjects′ private rights and endowing them with due private rights again is not setting things right, but still a kind of reform. We cannot make a rash conclusion that China′s New Democratic Revolution is radical or untimely or that socialist reform is error correcting and regressive on the basis of the veneer that the reformist nature of both socialist revolution and socialist reform is to deprive and endow private rights. Both the New Democratic Revolution which is political revolution and China′s socialist reform which is social revolution made great contribution to the progress of social productivity, the increase of China′s national comprehensive strength and the improvement of people′s wellbeing, thus going down in history and setting up historical exemplars and offering realistic enlightenment for future development and reform. 

Key words: private rights, early period after the founding of the PRC, public rights, revolution, reform