Legislators mull draft banking laws

Home>>China

Last updated at: (Beijing Time) Thursday, December 25, 2003

Legislators mull draft banking laws

DISCUSSION

CHINESE

SEND TO FRIEND

China's top legislators held paneldiscussions Wednesday, on the draft of the Law on the Supervision of the Banking Industry, the draft amendments to the Law on the People's Bank of China and the draft amendments to the Law on Commercial Banks.

The three draft laws are expected to meet the requirements for the restructuring of the country's banking sector, by strengthening supervision, according to the meeting.

Wu Bangguo, chairman of the Standing Committee of the National People's Congress (NPC), presided over the meeting, part of the ongoing Sixth Session of the NPC Standing Committee.

These laws are designed to meet the demands of the World Trade Organization (WTO) for the country, as well as to avoid financial crises, the participants agreed.

They hoped that a higher-level authority would be established by the State Council to coordinate the supervisory work by different regulatory departments in the banking industry.

The legislators said they are ready to approve the three laws.

On the same day, the legislators also discussed, for the first time, the draft amendments to the Law on Foreign Trade.

Questions?Comments? Click here

China Mulls Three Bank Laws

New Law to Boost Govt Supervision of Bank Risk Management

PBOC to play greater role in combating money laundering

Trade war? A buying spree for cheap Chinese goods ( 55 Messages)

Humanization reform gets started in prison in China ( 2 Messages)

China develops IPv6 technology to tackle IP address exhaustion ( 3 Messages)

Returned overseas students to work in government ( 2 Messages)

EU considers lifting 14-year-old ban on arms sales to China ( 8 Messages)