China to revise laws to develop modern economic system

BEIJING -- China's top legislature will revise the Company Law and the Enterprise Bankruptcy Law in 2021 to develop a modern economic system, according to a work report.

The annual work report of the National People's Congress (NPC) Standing Committee was submitted Monday to the ongoing fourth session of the 13th NPC for deliberation.

According to the report, the top legislature will also formulate a Hainan free trade port law, a futures law and a stamp duty law.