2. We found appropriate solutions to problems encountered in legislative work. Legislative work is a fundamental political activity in China, so following the correct guiding ideology is essential to doing good legislative work and improving the quality of legislation. Therefore, in carrying out our legislative work we always refer to the Constitution, maintain a correct political orientation, put people first, take into consideration the situation and actual conditions in the country and work in a spirit of reform and innovation to find appropriate solutions to problems we encounter in our legislative work.
The Law on Property Rights is a basic law that standardizes private property relationships in a market economy. The Law on Property Rights, which is related to China's basic economic system and affects the vital interests of the people, attracted wide attention from the general public and took 13 years to go from initial drafting to final promulgation. The Standing Committee of the Tenth NPC placed great importance on passing the Law on Property Rights, adopting a positive yet cautious attitude, putting a great deal of effort into the work, making major revisions and deliberating the draft bill many times before passing it by a large margin at the Fifth Session of the Tenth NPC. This law reflects the basic socialist economic system, complies with the principle of equal protection of property rights for all, strengthens protection of state-owned assets, is in compliance with the Party's current basic policy on the countryside and clarifies practical issues of most concern to the general public. In line with the objectives of the Law on Property Rights, the Standing Committee also deliberated the Law on State-owned Assets (draft), designed to protect the rights and interests of the state in holding assets and prevent their erosion.
Work on the Law on Oversight, which is related to China's political system and the structure of the government, took 20 years to bring to promulgation, beginning with its initial conception at the Sixth NPC. The Standing Committee of the Tenth NPC maintained a high sense of responsibility toward the Party and the people in making major revisions in the draft on the basis of a careful review of experience and extensive solicitation of opinions. The Standing Committee adjusted the scope of applicability of the Law on Oversight, focusing on clarifying the issues the standing committees of people's congresses at all levels were most concerned about and most hoped to see clarified, correctly balancing the need to strengthen the oversight work of the people's congresses and the need to uphold the leadership of the Party, and correctly balancing the need to strengthen the oversight work of the people's congresses and the need to support the legally sanctioned work of the people's governments, people's courts and people's procuratorates. The law fully reflects the organic integration of the leadership of the Party, the position of the people as masters of the country and the rule of law.
On the basis of the work of the previous two terms of the NPC, we formulated a new draft version of the Enterprise Bankruptcy Law. On the basis of thorough discussions with the State Council and interested parties, we included in this draft special provisions to require giving priority to clearing up major issues such unpaid wages, basic old-age pensions and expenses for medical insurance due from bankrupt enterprises, thus effectively protecting the legal rights and interests of the employees of bankrupt enterprises. To address the issue of possible acquisition of Chinese enterprises by foreign businesses or the emergence of foreign monopoly operations in China through other means, an issue of great concern to the public, the Antitrust Law clearly stipulates that any such action that affects the security of the country, in addition to any merger being subject to the normal legally mandated examination, will also be subject to examination for its effect on the country's security in accordance with the regulations of the state. This stipulation is conducive both to increasing the degree of the country's openness and to safeguarding the country's economic security.
In response to fairly strong contrary opinions raised during deliberation of the draft Administrative Approval Law, the Standing Committee attached great importance to protecting the lawful rights and interests of parties applying for administrative approval by clearly defining the scope and limit of jurisdiction for administrative approval in accordance with a principle of balancing compliance with the law and reasonableness, efficacy and convenience, and power and responsibility. The law rescinds the power of administrative approval stipulated by the regulations of government departments and limits the power of provincial-level people's governments to stipulate requirements for administrative approval. In deliberating and revising the draft of the Law on Public Security Management and Punishment, the Standing Committee paid close attention to granting public security organs and the people's police the necessary powers while also paying close attention to instituting standards and oversight for the exercise of those powers in order to effectively safeguard the lawful rights and interests of citizens and preserve public order in society.