China to Advance Economic and Social Development Through Legislative Initiatives

This year, several legislative initiatives concerning the economy and finance are slated for unveiling and amendment, with the goal of fostering high-quality development. A senior legislator announced this at a recent news conference.

The legislative work plan for the year includes the creation of laws to support the private sector, maintain financial stability, and improve the quality of arable land. Furthermore, several existing laws are scheduled for revision. These include the Anti-Unfair Competition Law, Enterprise Bankruptcy Law, Agriculture Law, Civil Aviation Law, and Banking Supervision Law.

These legislative projects are designed to contribute to the systematic advancement of high-quality development. For instance, the draft private sector promotion law is expected to undergo its third review by the National People's Congress Standing Committee in the upcoming session.

The importance and urgency of the draft law were emphasized, recognizing the private sector's significance within the socialist market economy. The formulation of this law is a key decision by the central leadership, reflecting the country's long-standing commitment to the continuous, healthy, and high-quality development of the private sector.

In addition to economic and financial legislation, lawmakers are also focusing on items related to people's livelihoods, national security, and public security. The NPC Standing Committee is preparing laws on social assistance, childcare services, and atomic energy. Amendments are also planned for laws concerning infectious disease prevention, traffic safety, food safety, prisons, and cybersecurity.

The upcoming session will see the review of the draft atomic energy law, revisions to the Prison Law, and amendments to the Law on the Prevention and Treatment of Infectious Diseases. The draft private sector promotion law will also be reviewed.

Moreover, a draft ecological environment code is set to be reviewed for the first time. This code aims to enhance the systematic nature, integrity, coordination, and effectiveness of China's environmental protection legal system. The code integrates existing laws related to pollution control and incorporates key principles from regulations concerning river basins, regions, natural resources, biodiversity, circular economy, and energy conservation. The code also addresses green and low-carbon development, climate change response, and carbon neutrality.