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Drafting Proposal on Macro Control Law Discussed
Chinese experts on economic law research had heated discussions Monday on the drafting of a "macro control law" during an ongoing symposium on economic law studies.
During the symposium, over 50 experts from 26 universities throughout the country are expected to work out a draft proposal, which will be submitted to a national economic law seminar in September for further discussion and deliberation.
The idea of stipulating a "macro control law" was put forward by a large number of economists in recent years.
Famous economist Yang Zixuan, a major advocator, explained that macro control has played an important role in the establishment of China's market economy and served as a basic example of the country's reform and opening up over the past 20 years.
However, he pointed out, the present macro control efforts of the nation is not strong and rational enough to coordinate various aspects of economic life. Therefore, a guiding law in this field is badly needed.
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