Decision of the Standing Committee of the National People's Congress on Authorizing the State Council to Temporarily Adjust the Implementation of Relevant Provisions of Laws in Pilot Free Trade Zones (2021)

Decision of the Standing Committee of the National People's Congress on Authorizing the State Council to Temporarily Adjust the Implementation of Relevant Provisions of Laws in Pilot Free Trade Zones (Adopted at the 28th Meeting of the Standing Committee of the Thirteenth National People's Congress on April 29, 2021) For purposes of deepening the reforms of "separation of operating permits and business licenses" and "delegating power, streamlining administration and optimizing government services", further optimizing business environment, stimulating market's vitality and speeding up the transformation of government functions, the Standing Committee of the Thirteenth National People's Congress has decided at its 28th meeting: to authorize the State Council to temporarily adjust the implementation of relevant provisions of the Law of the People's Republic of China on the Promotion of Privately-run Schools, Accounting Law of the People's Republic of China, Law of the People's Republic of China on Certified Public Accountants, Auction Law of the People's Republic of China, Law of the People's Republic of China on Regulation of and Supervision over the Banking Industry, Law of the People's Republic of China on Commercial Banks, and Insurance Law of the People's Republic of China (catalog of provisions attached) in pilot free trade zones, and those provisions shall be implemented mutatis mutandis in other regions of the counties, cities not divided into districts, and municipal districts in which the pilot free trade zones are located. The period for implementing said adjustments shall be three years and it shall start from the date when this Decision is promulgated.

The State Council and its relevant departments shall strengthen the guidance on, coordination of and supervision on the pilot regions' work, summarize work experience in a timely manner, and submit an interim report on the implementation of the temporary adjustments of relevant provisions of laws to the Standing Committee of the National People's Congress. Where adjustments are proved feasible, the State Council shall make a proposal on revising the relevant laws, whereas for those adjustments which are proved unsuitable in practice, the original provisions of law shall be reinstated.

This Decision shall be promulgated on July 1, 2021.

Appendix:

List of Provisions of Law the Implementation of which is Temporarily Adjusted in Pilot Free Trade Zones by the State Council upon Authorization