Reflections on Local Legislations of Chongqing to Promote the Fictitious Economy's Development

Although the legal institutions of fictitious economic law are mainly supplied by the State in our country, the local authorities can play a particular role in building up them. As far as the local legislations in fictitious economy law are concerned, Chongqing's lawmaking in fictitious economy law is still lag. As an experimental city of planning and developing the city and its rural area as a whole, Chongqing Municipality can fully exercise its local legislative power granted by the Constitution and the Legislative Act and take a lead in supplying the institutions needed in the fictitious economy through local legislations. So it is proposed that Chongqing Municipality carry out local legislative activities in the following five respects: perfecting the legal institutions of promoting medium and small enterprises, setting up the legal institutions of promoting venture investments, creating the legal institutions of legalizing private finances, establishing the legal institutions of promoting countryside finances and constituting the legal institutions of collecting and using the society's credits.