Company law may enter constitution

PUBLISHED : Wednesday, 17 February, 1993, 12:00am
UPDATED : Wednesday, 17 February, 1993, 12:00am

CHINA'S first ever company law is likely to be enshrined in the country's constitution, according to the China Daily.

The Standing Committee of the National People's Congress is looking at legislation which would cover shareholding and limited liability companies.

The law would also govern the subsidiaries of foreign companies producing or trading goods in China, the paper said.

The spotlight is also being placed on the country's 11-year-old trademark law, which is likely to be amended to reflect agreements made with the US to bring China's trademark and intellectual property rights laws in line with international standards.

In addition, the State Council has proposed a series of amendments that will drop past claims referring to the triumph of socialism in the constitution, while adding references to Mr Deng Xiaoping's free-market reforms, according to news reports.