CHINA / National

Anti-money laundering bill widens net
By Sun Shangwu (China Daily)
Updated: 2006-04-26 06:25

Last year, China joined the Financial Action Task Force on Anti-Money Laundering as an observer.

The NPC Standing Committee started a five-day session yesterday to examine a package of laws and international conventions, including draft amendments to the Partnership Law.

The draft amendment on partnership firms is expected to boost venture capital in high-tech enterprises, according to Yan Yixun, vice-chairman of the Financial and Economic Affairs Committee of the NPC.

Establishing limited liability partnerships will help promote the development of professional services, such as accounting and legal firms, according to Yan.

Members of NPC Standing Committee will also examine the draft law on safety and quality of agricultural products, the draft law on passports and amendments to the Criminal Law.

(China Daily 04/26/2006 page1)

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