By Wang Yanlin | 2013-1-30 | ONLINE EDITION
SHANGHAI should formulate a law to oversee investment projects funded by the government, a legislator suggested in one proposal which was among the total 102 by today.
Sheng Leiming, a deputy of the Shanghai People's Congress and a partner of Zhongmao Law Firm, made the proposal jointly with 15 SPC deputies.
In the proposal, Sheng suggested a third-party entity should be established to supervise large-sum government-funded projects or those having massive influence on environment or lives of ordinary people.
"We should work out an effective means to rule the government-funded projects as they are usually heavy in capital investment, highly resource-consuming and closely related to local economic development and people's lives," Sheng said.
In the 8-page proposal, Sheng elaborated on a drafted law that details how to govern the government projects, from project application, fund management to legal responsibilities if the project turns out to be a failure.