Tag: Financial Stability Law

NPCSC Session Watch: Public Security Offenses, Border Health, Financial Stability, Mineral Resources & Report on Promoting Development of Private Economy

UPDATE (June 29, 2024): On June 28, the NPC Standing Committee (NPCSC) revised the Emergency Response Law (effective Nov. 1, 2024) and the Border Health and Quarantine Law (effective Jan. 1, 2025); passed the Rural Collective Economic Organizations Law (effective May 1, 2025) and an amendment to the Accounting Law (effective July 1, 2024); and approved a decision authorizing the State Council to suspend certain provisions of the Food Safety Law in the Hainan Free Trade Port (effective Oct. 1, 2024).

Close-up on the belt of a Chinese police officer in Beijing displaying the coat of arms of China.
Photo by Gwengoat. iStock.com standard license.

China’s top legislature, the 14th NPC Standing Committee (NPCSC), will convene for its tenth session from June 25 to 28, the Council of Chairpersons decided on Monday, June 17. The Council proposed an agenda with ten legislative bills, all of which are pending bills that return for further review. The agenda also includes a report by the State Council that might be of wider interest. We briefly discuss these items below.

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NPCSC Session Watch: Lawmaking Reforms, Corporate Bankruptcy, Charity, Financial Stability, Foreign Sovereign Immunity, Cross-Border Litigation & More

UPDATE (Jan. 3, 2023): On December 30, 2022, the NPCSC adopted the revision to the Wild Animals Protection Law, effective May 1, 2023, and the Reservists Law, effective March 1, 2023.

UPDATE (Dec. 27, 2022): The official readout of the session’s first meeting reveals that the NPCSC is also reviewing a draft amendment to the Foreign Trade Law [对外贸易法] to codify a pilot administrative reform that recently expired on December 1. The readout also shows that the State Council has requested an interpretation of “relevant articles” of the Hong Kong National Security Law, without elaborating. We expect both to pass on Friday. Finally, it appears that the draft revision to the Enterprise Bankruptcy Law [企业破产法] has been removed from this session’s agenda.

Last Friday, the Council of Chairpersons decided to convene the 38th and second-to-last session of the 13th NPC Standing Committee (NPCSC) from December 27 to 30. The session’s tentative agenda includes fifteen bills. The Hong Kong government’s requested interpretation of the Hong Kong National Security Law, however, is not among them. But as we have explained, the NPCSC may hide the existence of a bill until after its adoption, so it could still consider an interpretation at the upcoming session. Below we briefly preview the bills slated for review.

Continue reading “NPCSC Session Watch: Lawmaking Reforms, Corporate Bankruptcy, Charity, Financial Stability, Foreign Sovereign Immunity, Cross-Border Litigation & More” →