Let’s get legislating
The NPC standing committee's fifth legislative meeting of the year takes place this week, from Monday through Friday.
It's a busy one: A total of nine laws will be deliberated and revised by the NPC standing committee, including (NPC1):
- The Administrative Reconsideration Law
- The Foreign Sovereign Immunity Law
- The Company Law
- The Value-Added Tax Law
Pay attention: Draft amendments to the Administrative Reconsideration Law and the Company Law will both be going through their third reviews, meaning there is a good chance they will be finalized this week.
The Administrative Reconsideration Law allows firms to contest administrative actions, such as fines, penalties, or other compulsory measures. The latest proposed changes aim to (NPC2):
- Expand the scope of government actions eligible for reconsideration requests
- Enable online application for administrative reconsideration
- Allow government and judiciary bodies to review administrative reconsideration decisions made at lower levels
Latest amendments to the Company Law – which regulates the establishment and operation of companies – aim to increase protection of the rights and interests of company stakeholders, and improve regulation of company bond issuance (NPC2).
So what's next? If the amendments pass, the full text of the revised laws will be published this week.
- If the amendments don't pass, and need further rounds of deliberation, we'll instead learn about the proposed changes being discussed.
Stay tuned.