ON LAWS CONCERNING THE ANNEXING PURCHASE OF ENTERPRISES IN CHINA

Market economy is in essence a kind of legal economy. Annexation of enterprises under the market economy will not work without good legal environment, the forming of which also rests on the legislative completion and perfection of laws concerning annexation of enterprises, companies, management of fixed assets, authorization of state-owned enterprise property rights, banking, anti-monopoly and illegitimate competition, and social insurance. Macroscopically speaking, a rigorous, scientific, unified and complete legal system has to be worked out of these law, and rules and regulations together with the civil law, budget act, bankruptcy law, industrial property rights law, real estate law, so that all of them will be perfectly connected, matched, and coordinated.