China's draft law on national development planning was submitted on Monday to the ongoing session of the Standing Committee of the National People's Congress, China's top legislature, for a third reading, as the country works to codify the long-standing practices in national development planning into law.

The Standing Committee of the 14th NPC began its six-day 19th session in Beijing on Monday. The NPC's Constitution and Law Committee presented a report to the session on the revised version of the proposed legislation after it was read for the second time at the Standing Committee's 17th session in September.

The draft law consists of six chapters and 37 articles, outlining the overarching requirements for national development planning, procedures for formulation, review, approval and supervision over the implementation of national development plans in accordance with the law.

It aims to improve the country's macroeconomic governance framework, give play to the strategic role of national development planning, promote high-quality development, and advance the building of a modern socialist country.

The third draft of the bill includes an amendment in the definition of national development planning, noting the vision for long-term development may be proposed as needed in addition to the outline of the five-year plan for national economic and social development.

It also highlights the need to improve the national planning system and properly manage the relationships among various types of plans formulated by governments at different levels.

Specific requirements for practicing the whole-process people's democracy in formulating the national development plan have been added.

An amendment stipulates that the formulation of national development plans should uphold the unity of top-level design and public consultation, while leveraging the supporting role of industry associations.

The draft adds a provision to promote the coordinated efforts of policies related to consumption, investment, and trade in the implementation of the national development plans.

It specifies that the State Council, China's Cabinet, organizes the formulation of the annual plan for national economic and social development.

It adds a provision that the specific task of drafting such an annual plan is undertaken by the national development planning department under the State Council in collaboration with other relevant departments.

The legislation is expected to further improve the systems that guarantee the implementation of national development plans and enhance the coherence of macroeconomic policies, observers said.