Abstract: The property rights system is the foundation of the market economy, and fair protection of property rights is the key of modern market governance. Under the concept of governance, property rights protection is centered on fair participation, interest coordination, and institutional incentives. Fair protection of property rights includes three dimensions, aiming to form a comprehensive fair protection system of property rights with subject, time and space fairness as the external forms, and diversity, inclusion and openness as internal core values. Under the subject dimension, it emphasizes the equal protection of property rights for both public and non-public economies, highlights the pluralism of property rights subjects and resource allocation by the market, and reconstructs the government’s role in property rights. Under the time dimension, it is required to uphold an inclusive concept of property rights development, pay attention to the intergenerational equity of property rights protection, form a correct perception of enterprise property rights, and promote entrepreneurship. Under the space dimension, we should adhere to the integrated development of urban and rural property rights, coordinate the promotion of domestic and foreign property rights, optimize the business environment, and build an open property rights economy.