The draft financial law is submitted for the first time to the Standing Committee of the National People's Congress for consideration.
On June 23, 2026, the draft of the Financial Law of the People's Republic of China was submitted for its first review at the 23rd meeting of the Standing Committee of the 14th National People's Congress.
On June 23, 2026, the draft of the Law of the People's Republic of China on Finance was submitted for the first review at the 23rd meeting of the Standing Committee of the 14th National People's Congress.
The Financial Law is a fundamental, comprehensive, and leading law in the field of finance in our country, positioning itself as the "1" in the legal system of finance, playing a guiding, leading, and normative role. The laws in the fields of banking, insurance, securities, etc. are "N", and other financial laws and regulations are "X", which need to be aligned with the basic provisions set by "1", ensuring both enforcement and legislation, specifically regulating various financial activities. The "1+N+X" together construct a scientifically complete and unified financial legal system.
The draft of the Financial Law adheres to the theme of strong supervision, risk prevention, and promotion of high-quality development, emphasizing overall development and security, aiming to address the legal challenges hindering the high-quality development of finance.
This article is reproduced from Xinhua News Agency; GMTEight editor: Chen Xiaoyi.
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