Archive for ‘milestone’

28/05/2020

China’s Civil Code adopted at national legislature

BEIJING, May 28 (Xinhua) — Chinese lawmakers Thursday voted to adopt the country’s long-expected Civil Code at the third session of the 13th National People’s Congress, the top legislature.

The Civil Code will take effect on Jan. 1, 2021.

In addition to general provisions and supplementary provisions, the Civil Code, the world’s latest modern-day civil law, has six parts on real rights, contracts, personality rights, marriage and family, succession, and tort liabilities.

The personal rights, property rights and other lawful rights and interests of the parties to civil legal relations shall be protected by law and shall not be infringed upon by any organization or individual, reads the Civil Code in its opening chapter.

Lawmakers say the codification is not about formulating a new civil law but rather systematically incorporating existing civil laws and regulations, modifying and improving them to adapt to new situations while maintaining their consistency.

A major innovation of China’s Civil Code, jurists say, is embodied in the personality rights part. While some countries have related law provisions, few have a specific law book in civil code dedicated to protecting personality rights.

The personality rights part covers stipulations on a civil subject’s rights to his or her life, body, health, name, portrait, reputation and privacy, among others.

The personality rights part shows that China has reached a new height in protecting the dignity of people, said Chen Jingying, a national lawmaker and vice president of East China University of Political Science and Law.

The Civil Code is a milestone in developing the socialist legal system with Chinese characteristics, and will greatly boost the modernization of China’s system and capacity for governance, said Wang Yi, dean of the law school at Renmin University of China.

Source: Xinhua

10/04/2020

China encourages export goods sales domestically as virus batters global trade

BEIJING (Reuters) – China will promote the sales of export products in domestic markets, as foreign trade faces unprecedented challenges due to the coronavirus pandemic, an assistant commerce minister said on Friday.

As the coronavirus spreads to almost all of China’s trading partners, the world’s second-largest economy is set to reach a grim milestone for full year growth, with the pace of expansion likely to be the slowest since the Cultural Revolution ended in 1976. And, the export sector is facing millions of job losses and factory shutdowns.

“Due to the rapid spread of the epidemic in the world, foreign demand has slumped and the biggest difficulty facing foreign trade companies is the plunge in orders,” said Ren Hongbin, the assistant minister at the Ministry of Commerce.

He said firms across the board have had their orders cancelled or delayed, and new orders are “very hard to sign”.

“The uncertainty about the pandemic has become the biggest uncertainty for foreign trade development.”

Forecasters expect China’s 2020 growth could be nearer the 2.0% mark – the slowest in over 40 years – due to the sweeping impact of the pandemic both at home and overseas. The economy grew 6.1% last year.

China’s overseas shipments fell 17.2% in January-February from the same period a year earlier, marking the steepest fall since February 2019. Imports sank 4% from a year earlier.

Among the government measures to support the sector, China is accelerating efforts to build online trade fairs and guiding exporters to work with e-commerce retailers for sales in domestic markets and coordinating with its trading partners to stabilise supply chains, said Ren.

The Canton Fair, China’s oldest and biggest trade fair due to take place online, will feature live-streaming services for participants, Li Xingqian, another commerce ministry official, told the same briefing. The fair was originally scheduled to begin on April 15, but was postponed due to the coronavirus outbreak.

China is willing to boost trade relations with other countries, including the United States, under the new circumstances, said Ren, adding that Beijing hopes to work together with Washington to promote bilateral trade.

Both countries have been engaged in a near two-year long trade war with tit-for-tat tariffs on each other’s goods, before negotiators called a truce with an interim trade deal in January.

Source: Reuters

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