From November 30 until December 13, 1981, the Fourth Session of the Fifth National People's Congress convened in Beijing. The government report approved during the meeting pointed out the need to implement the guiding principle of "adjusting, reforming, readjusting, improving" for?five years or more. The session adopted the Economic Contract Law and the Income Tax Law for Foreign Enterprises, which became effect on July 1, 1982 and January 1, 1982 respectively.