In a follow-up to the news that the PRC National People's Congress (NPC) completed its second review of the draft Labor Contract Law, the US-China Business Council's (USCBC) Beijing office this week obtained a copy of the revised draft Labor Contract Law from the Legislative Affairs Office (LAO) of the NPC.
China Market Intelligence
The Standing Committee of the 10th National People's Congress (NPC) met December 24-29, 2006 to review key legislation.
After receiving an unprecedented 190,000 comment submissions--including one from the US-China Business Council (USCBC)--for the draft Labor Contract Law during the public comment period in March 2006, the Standing Committee of the 10th NPC reviewed a revised draft of the law in its December session.
The PRC National Development and Reform Commission (NDRC) recently issued a notice on restructuring China's domestic auto industry to control overinvestment in the sector.
In early November 2006, one of China's most influential and intrepid unofficial newspapers, Southern Weekend (Nanfang Zhoumo), published a list that ranked Fortune 500 companies by their "impact" in China. The ranking considered each company's overall influence in China, social responsibility, and regional contributions, among other factors.
The Beijing No. 1 Intermediate People's Court last week ruled that US-based Pfizer, Inc.'s patent on Viagra, the male impotence drug, is valid and ordered two Chinese companies to stop producing counterfeit pills.