According to ADB website, the TA will provide inputs to support the review of the draft of the revised Securities' Law and also the draft of a new Futures' Law. These inputs will be used in the legislative process to prepare for the first and subsequent readings of the laws by the Standing Committee of the NPC. Work on Securities' and Futures' Laws has already been listed on the 5-year lawmaking plan of the Standing Committee of the 12th NPC. The TA directly supports the process to enable up-to-date and complete legislation to facilitate development of the financial system. The TA builds on prior ADB work on legislation that includes ADB's Law and Policy Reform program in the PRC from 1993 to 2003 that facilitated the development of commercial and economic laws. The work resulted in adoption of the first Securities Law, Trust Law, Company Law (amendment), Bankruptcy Law, and legal adjustment relating to antidumping, countervailing duties, safeguards, import and export of goods, Foreign Trade Law, and cross-border merger and acquisition, upon accession to the World Trade Organization. The TA is also related to the existing TA, Developing a Legal System for the Credit Market and to the closed TA on Capacity Building of the Capital Markets' Regulatory System.
Safeguard categorization is not applicable for this project based on bank's documents.
Project Officer: Giannetto, Giacomo G.
East Asia Department
No contact information provided at the time of disclosure.
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