People's Republic of China Contract Law - Practical Edition

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Publish Date: 2007-01-01
Features: The "Contract Law of the People's Republic of China" (hereinafter referred to as "Contract Law") is an important part of civil law and a fundamental law of the market economy, closely related to the production and operation of companies and enterprises, as well as the daily lives of the people. Since 1981, our country has successively formulated three contract laws: the "Economic Contract Law of the People's Republic of China," the "Foreign-related Economic Contract Law of the People's Republic of China," and the "Technology Contract Law of the People's Republic of China." With the continuous deepening and expansion of reform and opening up, and the ongoing development of the economy and society, on the basis of the original three contract laws, the second session of the ninth National People's Congress passed the new "Contract Law" on March 15, 1999, which went into effect on October 1 of the same year. To support the implementation of the "Contract Law," the Supreme People's Court promulgated and implemented the "Interpretation of Several Issues Concerning the Application of the 'Contract Law of the People's Republic of China'" in December 1999. The promulgation and implementation of the "Contract Law" and its interpretations have played an important role in protecting the legitimate rights and interests of all parties to contracts, maintaining the social and economic order, promoting the development of the domestic economy, technology, and foreign economic and trade, and ensuring the smooth progress of the socialist construction cause.