Two draft laws to be deliberated by NPC
( 2003-10-23 21:23) (Xinhua)
Draft laws on securities investment fund and transportation safety will be
submitted for deliberation at the fifth meeting of the 10th Standing Committee
of the National People's Congress (NPC), which opened here Thursday.
Wu Bangguo of the NPC Standing Committee presided over today's meeting.
two draft laws have been deliberated by the NPC Standing Committee for several
According to Hu Guangbao, vice-chairman of the NPC Law
Committee, the current version of the draft law on transportation safety
provided specific management over vehicles for agricultural uses while insisting
transportation departments exercise unified management over all
Besides, it limited the precondition in conducting safety checks
over vehicles to the necessity of only car license and the compulsory insurance
policy on the third party responsibility and in the meantime included a special
item to offer reasonable awards to law-biding drivers.
According to Wang
Yiming, another vice-chairman of the NPC Law Committee, the current draft law on
securities investment fund aims to improve both the quality and stability of the
securities management companies and their executives.
"The law bears great
significance in standardizing the investment of securities and funds,
safeguarding the investors' legitimate rights and interests and ensuring the
healthy growth of the securities market," said Wang.