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State Council Discusses Draft Administrative Laws on Tax, Pharmaceutical Industry
The State Council, China's cabinet, Wednesday discussed and passed drafts of administrative laws on taxation and pharmaceutical industry at its 29th executive meeting.
Premier Zhu Rongji presided over the meeting.
The participants agreed that the administrative law on taxation, enacted in 1992 and partially amended in 1995, should be revised and improved so as to meet the changes along with the gradual setting up of a socialist market economy in China.
They also reached a consensus that it is necessary to amend and improve the administrative law for the pharmaceutical industry which went into effect in 1985.
The State Council will hand over the revised drafts to the Standing Committee of the National People's Congress for further discussion and official approval.
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