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Amending of Securities Law progressing smoothly
( 2003-10-22 21:12) (Xinhua)

The group amending the Securities Law held its third plenary meeting Sunday to further study the relevant issues in amending the law and vowed to fulfill the task with high quality.

The final amendment draft of the Securities Law will be deliberated by the 10th Standing Committee of the People's Congress (NPC) in December this year, according to the relevant procedure of China's top legislature.

At Sunday's meeting, the amending group reported to the leading group and counseling group the work of the previous period, and expounded the concrete amendments to the Securities Law.

The meeting, presided over by Zhou Zhengqing, vice chairman of the Financial and Economic Committee of the 10th NPC as well as director of the leading group amending the Securities Law, positively affirmed the progress made during the previous period.

The amending group of the Securities Law was set up on July 7 this year by the 10th NPC Financial and Economic Committee, and has revised several draft amendments in the past three months.

The current Securities Law was adopted at the sixth session of the Ninth NPC Standing Committee held on Dec. 29, 1998 and took effect as of July 1, 1999.

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