China's national lawmakers on Wednesday voted to adopt the country's first fundamental law dedicated to promoting the private sector, underscoring support for a key part of the world's second-largest economy.
The promulgation of China's private sector promotion law is timely and of great significance.
China's national lawmakers on Wednesday voted to adopt the country's first fundamental law dedicated to promoting the private sector, underscoring support for a key part of the world's second-largest economy.
China aims to better promote private economic development by introducing stronger support measures and ensuring fair law enforcement, a spokesperson said Friday.
The highly anticipated draft law concerning the private economy will be further reviewed by Chinese lawmakers, an official from the Standing Committee of the National People's Congress, China's top legislature, said on Friday.
China's second draft of the private economy promotion law has attracted widespread attention at the ongoing two sessions — the annual gatherings of the National People's Congress and the National Committee of the Chinese People's Political Consultative Conference.
Chinese lawmakers advanced the draft private economy promotion law during a recent National People's Congress Standing Committee session, in a move aimed at dismantling barriers, unlocking the sector's full potential and creating a fairer and more dynamic business environment.
A draft law on promoting the private economy will be submitted to Chinese legislators for further review as the nation accelerates its pace of high-quality development and advances its path to modernization, a legislative commission said on Friday.
Chinese lawmakers are deliberating a draft of the country's first basic law specifically focused on the development of the private sector.
China's Ministry of Justice on Monday said it has received over 1,000 suggestions since it published a draft of the private sector promotion law for public opinion.
China is moving closer to its first basic law specifically focused on the development of the private sector, as a draft was released for public input on Thursday.
China's Ministry of Justice and the National Development and Reform Commission on Thursday published a draft of the private sector promotion law to solicit public opinion.
Ministry of Justice of the
People's Republic of China