UPDATE (Nov. 11, 2024): On November 8, the NPCSC adopted the Preschool Education Law (effective June 1, 2025) and the Energy Law (effective Jan. 1, 2025); revised the Cultural Relics Protection Law (effective Mar. 1, 2025), Mineral Resources Law (effective July 1, 2025), and Anti–Money Laundering Law (effective Jan. 1, 2025); and amended the Oversight Law (effective immediately). It also extended the pilot program to suspend two provisions of the Metrology Law in six cities for three years, and approved an increase in local government debt limits to repay hidden debt.
UPDATE (Nov. 4, 2024): According to the readout of the session’s opening meeting, the NPCSC is also reviewing a bill submitted by the State Council to “increase the local government debt limit to swap existing hidden debt,” which it is expected to approve on November 8. The NPCSC may be reviewing additional, as-yet undisclosed fiscal measures. In addition, the readout shows that the NPCSC is expected to approve the draft Oversight Law amendment at this session.
China’s top legislature, the 14th NPC Standing Committee (NPCSC), will convene for its twelfth session from November 4 to 8, the Council of Chairpersons decided on Friday, October 25. This session should have been held in late October, but has been postponed for reasons unknown. Two bills that the NPCSC recently discussed at its previous session—which was itself postponed—will return for further review, so the legislature might have needed additional time to prepare new drafts. Or the delay might have been necessary to place a highly anticipated stimulus package on the agenda, though the readout of the Council’s meeting disclosed no such bill. But that is not the end of the story, as we will explain shortly. According to the Council’s proposed agenda, the session will consider 11 legislative bills, which we also preview below.
Continue reading “NPCSC Session Watch: Fiscal Stimulus(?), People’s Congress Reforms, Energy, Arbitration, Maritime Law & Sci-Tech Popularization”