Latest News:  
Beijing   Cloudy/Overcast    27 / 22 ℃  City Forecast

Home>>China Politics

China's top legislature discusses law drafts


08:07, June 27, 2012

Wu Bangguo, chairman of the National People's Congress (NPC) Standing Committe, speaks at the first plenary meeting of the 27th session of the 11th National People's Congress (NPC) Standing Committee in Beijing, capital of China, June 26, 2012. (Xinhua/Ding Lin)

BEIJING, June 26 (Xinhua) -- China's top legislature on Tuesday started reading several draft amendments to laws covering the budget, labor contracts, and securities investment funds.

The draft amendments were submitted at the session of the National People's Congress (NPC) Standing Committee that runs from Tuesday to Saturday.

Wu Bangguo, chairman of the NPC Standing Committee, presided over the first plenary meeting of the session on Tuesday.

The draft amendments to the budget law presented for the first reading had included an article allowing local governments to issue bonds within a quota set by the State Council and approved by the NPC.

The bill for the second reading, however, removed this article and reinstated the regulation in the current law that bans local governments from issuing bonds.

According to the bill, the financial department of the central government can issue bonds on behalf of local governments only in accordance with laws and regulations issued by the State Council, China's Cabinet.

【1】 【2】


Leave your comment0 comments

  1. Name


Selections for you

  1. 4th Minorities Art Festival kicks off in Beijing

  2. S. Korea holds military exercise in Chungcheong

  3. Kunming Changshui Int'l Airport to be open

  4. Strong downpours batters Jiangxi province

Most Popular


  1. Leftover men to be a big problem
  2. A symbol of affluence or a trap of luxury?
  3. Premier's visit sign of close ties with region
  4. Property necessary pill for economy
  5. Chinese banks must go global
  6. Putin's visit to Israel more symbolic than strategic
  7. Syria's new government faces escalation of tension
  8. Trade is tool to fix global economy
  9. Skyscraper frenzy brings loan risks to new heights
  10. China to 'maintain 8% growth for over 20 years'

What's happening in China

Training of detection dogs in NW China

  1. A brief guide to manly work and equality
  2. King's hill mausoleum points to lavish dreams
  3. Driven to distraction on wheels
  4. Cut in fuel prices expected
  5. China stocks slump on lingering eurozone worries

China Features

  1. Eurozone should move forward or it will fall over
  2. Food safety rumors have significant social impact
  3. Life in drug rehabilitation center in Hebei
  4. China's first private Perfume Museum
  5. Mengshan Mountain Giant Buddha

PD Online Data

  1. Spring Festival
  2. Chinese ethnic odyssey
  3. Yangge in Shaanxi
  4. Gaoqiao in Northern China
  5. The drum dance in Ansai