Abstract: Realizing common prosperity is the core value pursuit of the public ownership economic system and the original intention of the national ownership system. In order to implement the socialist essential requirement of common prosperity, the rule of law methodology should be used to improve the state ownership system. To reduce the living costs of the people and the operating costs of businesses, the law should not define climate resources as state-owned. In order to protect the rights of survival and development of vulnerable groups, it is recommended to provide for a preemptive occupation system. The development and utilization of state-owned natural resources should adhere to the reform direction of marketization, rule of law and transparency, so as to make the best use of properties and ensure fair play. The developer should be selected through a competitive method of public bidding for the purpose of development and utilization of limited natural resources, infrastructure and public utility franchising. To ensure that the people obtain direct benefits from state-owned property, it is recommended to establish a national dividend system for state-owned enterprises. It is recommended to establish a taxpayer-friendly system of moderate tax and fee. It is suggested to improve the judicial protection system of state ownership to curb the loss of state-owned assets. It is recommended to activate public interest litigation. The state-owned assets management agency or the procuratorial agency has the right to file a public interest lawsuit against infringement on state-owned assets. It is recommended to establish a people’s representative litigation system and improve the system to reward the reporting of illegal actions.