Members of the Standing Committee of the 10th National People's Congress (NPC) held panel discussions on the draft amendments of Corporate Law and Securities Law on Sunday.
The participants came to an agreement that the two drafts are quite mature after three rounds of deliberations, and they can be handed over to this session of the NPC Standing Committee for approval.
The draft amendments of Corporate Law include articles to protect the interests of investors, managerial staff and laborers, which will be helpful to boost the country's economic growth.
But there are disagreements on whether it is good to allow the establishment of one-person companies. Some lawmakers urge the State Council to enact stricter regulations on the operation of such companies as they have come up with serious problems on international market.
On amending the Securities Law, the legislators called for improving the quality of listed companies, paying greater attention to their information disclosure, and encouraging them to take to technological innovation.
The lawmakers also urged the authorities to deal with irregularities on stock markets and give severe punishment to violators.
(Xinhua News Agency October 24, 2005)
