China's legislature is to amend the urban real estate administration law in line with the Property Law, which is to come into effect in October, during an upcoming session.

The 29th session of the Standing Committee of the National People's Congress (NPC) is expected to convene from Aug. 24 to 30.

The Property Law grants equal status to the property of the state, the collective and the individual.

The session will for the first time read the draft amendment to the Law on the Administration of the Urban Real Estate, the Law on Science and Technology Progress and the Law on the Prevention and Control of Water Pollution, and the draft laws on labor dispute arbitration and recycling economy.

The law on recycling economy will provide an important legal foundation and a system design for China to better develop recycling economy which contributes significantly to energy conservation and environmental protection, said a NPC official.

Lawmakers will continue to discuss the draft amendment to the laws of anti-monopoly, employment promotion and animal epidemic prevention, and the draft law of urban and rural planning.

The draft anti-monopoly law, aiming to protect fair competition, prevent and check monopolistic behavior and maintain a regulated market place, was submitted for first review in June 2006 and for second review in June 2007.

The anti-monopoly law is a basic law for market economy. To date, there have been more than 80 countries adopting anti-monopoly law.

China planned to stipulate anti-monopoly law as early as in 1994. Experts said China's socialist market economy has turned mature over more than one decade, and in current market circumstances, the introduction of an anti-monopoly law is imperative.

The draft law requires foreign purchases of Chinese companies to go through checks to ensure there is no negative effect on China's national security.

The legislature will also discuss and ratify two international treaties relating to the International Thermonuclear Experimental Reactor (ITER).

Lawmakers will also hear and discuss an investigation report on water pollution treatment in the valleys of the Huaihe and Liaohe rivers.

(Xinhua News Agency August 18, 2007)