China's top legislature discusses law drafts

China's top legislature on Tuesday started reading several draft amendments to laws covering the budget, labor contracts, and securities investment funds.

The draft amendments were submitted at the session of the National People's Congress (NPC) Standing Committee that runs from Tuesday to Saturday.

Wu Bangguo, chairman of the NPC Standing Committee, presided over the first plenary meeting of the session on Tuesday.

The draft amendments to the budget law presented for the first reading had included an article allowing local governments to issue bonds within a quota set by the State Council and approved by the NPC.

The bill for the second reading, however, removed this article and reinstated the regulation in the current law that bans local governments from issuing bonds.

According to the bill, the financial department of the central government can issue bonds on behalf of local governments only in accordance with laws and regulations issued by the State Council, China's Cabinet.

Lawmakers reviewed for the first time draft amendments to the Law Guaranteeing the Rights and Interests of Senior Citizens as China's ageing population gives this issue more prominence.

The proposed revision redefined the family's role in supporting seniors as an important part, instead of a main part, as per the current law. It also added more articles on social support for seniors, including social insurance and community support.

The draft law on exit and entry administration was submitted on Tuesday to the NPC Standing Committee for its third reading. The minimum stay for foreigners holding work certificates will be shortened to 90 days, while the period of validity for a residence certificate will range from 180 days to five years, under a draft law.

Legislators reviewed for the first time the draft amendment to the Law on Securities Investment Funds that would impose new regulations on the country's privately offered funds, a move aimed at preventing illegal fundraising and trading.

Other documents deliberated at the meeting included draft amendments to measures for the People's Liberation Army to elect deputies to legislatures above county level and the country's top legislature, as well as draft amendments to measures for selecting the chief executive of the Macao Special Administrative Region and forming its legislative council.

Lawmakers also heard a report on the enforcement of the anti-drug law and the country's anti-drug work from Meng Jianzhu, minister of public security.

The session also discussed a report on the enforcement of the Law on the Protection of Cultural Relics presented by inspection teams of the NPC Standing Committee.

Legislators furthermore deliberated on some personnel appointments and removals.