China’s national legislature passes 24 law bills over past year as per the spokesperson remarks.
The Standing Committee of the National People’s Congress (NPC) has approved 24 legislative bills since the 2024 NPC annual session, a spokesperson announced on Tuesday.
Over the past year, the NPC Standing Committee has introduced six new laws, amended 14 existing laws, and made four significant legal and policy-related decisions, according to Lou Qinjian, spokesperson for the third session of the 14th NPC.
One of the key legislative developments was the recent adoption of the value-added tax (VAT) law, which aims to refine the tax system to support high-quality development, enhance social fairness, and ensure a unified market, Lou noted.
Additionally, the accounting law and the statistics law have been revised to reinforce the integrity of the market economy and safeguard public interests.
The NPC Standing Committee also enacted the tariff law, which is designed to strengthen foreign trade and facilitate high-level economic openness, Lou highlighted.
Furthermore, the anti-money laundering law underwent revisions to enhance national mechanisms for preventing and controlling financial risks, he added.
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