China has enacted six new laws and revised 14 existing ones over the past year as part of its efforts to advance reform and development through high-quality legislation.
According to a report released on Monday, the Standing Committee of the National People’s Congress (NPC) reviewed a total of 40 legislative items during the past year, including laws, legal interpretations and draft decisions. Among these were six newly enacted laws, 14 amendments to existing legislation, one legal interpretation and three decisions on legal and major policy matters. In addition, nine treaties and significant agreements were also approved.
The report was presented by Zhao Leji, Chairman of the NPC Standing Committee, at the ongoing fourth session of the 14th NPC on Monday and was submitted for deliberation.
To strengthen the legal framework governing the economy, the NPC Standing Committee last year adopted the Law on the Promotion of the Private Sector. The report noted that the legislation clearly establishes principles of neutral treatment, fair competition, equal protection and coordinated development.
The Anti-Unfair Competition Law was also amended, a move that the report says will help foster a credit-based economy grounded in the rule of law.
In addition, the Maritime Law, Arbitration Law and Foreign Trade Law were revised to bring them more in line with international standards and to further facilitate the development of a high-level open economy.
The report also highlighted the supervisory role of the NPC Standing Committee. As part of this responsibility, it reviewed and discussed several reports from the State Council on promoting the development of new quality productive forces, strengthening the integration of technological and industrial innovation, and accelerating the application of scientific and technological advances.
At the same time, oversight of financial and economic affairs has been intensified, alongside inspections related to the implementation of relevant laws.
Source and Photo: CGTN.