To expedite the development of a financially robust nation, the NPC Standing Committee will introduce laws on financial stability, with revisions to the People's Bank of China Law and the Banking Regulation Law, said the report.

Additionally, the report highlighted plans to enact a medical security law, a child care services law and a social assistance law to further support public welfare.

The report also disclosed intentions to legislate against cross-border corruption and conduct further research on legislation concerning artificial intelligence.

Nick Chan Hiu-Fung, a deputy to the 14th NPC and lawyer from the Hong Kong Special Administrative Region, emphasized that AI-related legislation can provide consistent standards and help turn judicial experience into best practices that can be shared globally.

Some cases heard by people's courts have indicated that AI development should not be overly restricted, Chan noted, pointing out that generative AI developments naturally have some gaps in the development process. "Hence, it's necessary to develop the right laws and maybe consolidate the cases that have been heard in such a way that the results we see in the future will be consistent, and we can share that best practice with the rest of the world," he said.

On Monday, a separate report of the NPC Standing Committee on the work of the overhaul of laws and the proposed handling of certain laws and decisions was also submitted for deliberation at the meeting. The NPC Standing Committee's Legislative Affairs Commission conducted a comprehensive review of laws, legal interpretations and decisions on relevant legal issues. The report addressed situations that are unsuitable or inconsistent by making distinctions and handling them according to the law.

The report underscored that addressing inconsistencies and misalignments within the legal system through comprehensive legal review is beneficial for ensuring that legislative work keeps pace with the times.