Enactment of Laws on Protecting Private Sector UrgedA lawmaker has asked the National People's Congress to promptly formulate laws and regulations on protecting private companies and individually-owned firms to create a fine legal environment for the private sector.Chen Guangrong, a deputy to the NPC, said that with the absence of laws and regulations concerning the protection of the private sector, the legitimate rights and interests of owners of private companies cannot be protected effectively. Furthermore, some administrative departments levy illicit fees and fines on private companies and individually-owned firms, said Chen, chairman of the Nanning City Private Companies Association. Nanning is the capital of southwest China's Guangxi Zhuang Autonomous Region. Without the binding force of laws, he said, some private companies resort to unfair competition. A few owners of private companies do not abide by laws in operations, but instead attempt to make use of loopholes in the legal system. Private companies and individually-owned firms are mushrooming throughout the country. The private sector now makes up 80 percent of the economies of many places in the developed coastal area in eastern China. Nanning City plans to increase the ratio of its private sector to 80 percent in five years' time. Chen expressed the hope that the current NPC session will discuss the issue of formulating laws on protecting the private sector. He said, ˇ°Before the Law on Private Companies and Individually-Owned Firms is promulgated, relevant regulations and rules should be formulated first in order to create a good legal environment for the private sector.ˇ± |
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