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NPC Law Committee reviews SMEs, nuclear, and cybersecurity


10-31-2016 15:31 BJT

The Standing Committee of China’s National People’s Congress is meeting for its bi-monthly session. Lawmakers are to review a series of laws and amendments—including laws on Small and Medium-Sized Enterprise improvement, nuclear safety, and cyber security.

It hass been 13 years since China adopted its law to support small and medium sized enterprises. By end of 2015, a majority of China’s 21.8 million registered enterprises were SMEs. But 43 percent say they face financing difficulty. That is one of the problems addressed in draft amendments submitted for the first reading on Monday.

“New content added includes: asking the banking supervisory body to differentiate supervision on service to small and mini enterprises, pushing forward orderly and healthy development of medium and small banks, non-deposit lending organs and internet financing,” said Wu Ritu, deputy director of NPC Financial and Economic affairs Committee.

Also to be read for the first time is a draft law on nuclear safety. China is expected to have the second most reactors in the world by 2020, after the U.S. Though the safety record has been good, a law is needed for stronger measures.

Deputy director of NPC Environment Protection and Resources Conservation Committee, said, “The purpose is to safely use nuclear power and protect the safety of nuclear facilities and materials; to take precautions and respond to nuclear incidents; to protect relevant staff and the public, as well as the environment.”

“Lawmakers will also continue to deliberate the draft law on cyber security. The NPC Law Committee suggested that the draft law should be put for a vote at this session, which runs until next Monday,” said Wu Guoxiu.

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