A draft amendment to China's Corporation Law was submitted to
China's legislature for first deliberation in Beijing Friday, with
an aim to lower capital requirements for new businesses and improve
supervision over listed companies.
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The amendment, if passed, will add 44 new items, omit 13 items and
revise 91 items from the original Corporation Law, according to
sources with the 14th session of the Standing Committee of the
National People's Congress (NPC).
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Lawmakers at the meeting also heard a report by Hua Jianmin, state
councilor and secretary-general of the State Council, on the
formulation of plans for a quick response to public health
emergencies.
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Hua said the plans were basically completed and a national system
was being set up.
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The State Council has decided to take more powerful measures to
prevent major coal mine accidents and launch campaigns to ensure
the safety of road and water transportation, dangerous chemicals,
fireworks and fire control.
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The meeting, presided over by Wu
Bangguo, chairman of the NPC Standing Committee, also heard
reports by officials from the Civil Aviation Administration of
China and the Foreign Ministry.
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Also deliberated at the meeting were the agenda for the NPC Third
Session, the name list of the presidium and secretary-general of
the session and the draft report on the work of the NPC Standing
Committee to be delivered at the session slated for early
March.
(Xinhua News Agency February 26, 2005)