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Chinese Legislature to Check Enforcement of Laws
Chinese legislature will send inspection teams to key stock markets this year to check the implementation of the Securities Law for better protection of the rights of individual investors.
According to a meeting of chairman and vice-chairpersons of the Standing Committee of the National People's Congress (NPC) held Tuesday, lawmakers will also conduct inspections to see how the Organic Law on Village Committees, Agriculture Law and the Law on the Prevention of Water Pollution were enforced.
The Securities Law was adopted by the Committee at the end of 1998 and took effect as of July 1, 1999.
The first inspection on the implementation of this law will focus on operations of the so-called unified supervision and management system, securities companies, listed companies and the protection of investors, especially individuals.
The Organic Law on Village Committees, which legalizes direct election of village heads, was first promulgated in 1987 and revised in 1998.
Lawmakers will in June and July check on procedures of direct elections, democratic policy making and supervision.
The Agriculture Law was adopted in 1993. The repeated inspections on its implementation is aimed at easing extra burdens on farmers while increasing their income.
The Law on the Prevention and Control of Water Pollution was enacted in 1984 and revised in 1996. As part of the inspection efforts relating to this law, legislators will go to the construction site of the Three Gorges Project to evaluate the environment situations there.
It was also decided in Tuesday's meeting that the NPC Standing Committee will hear and discuss eight work reports by the State Council and its ministries, ranging from implementation of annual social and economic development plan to the buildup of its social security framework, monetary policy issues and the public order.
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