Three Chinese Authorities Hold Symposium on Accelerating Legislation to Boost Private Economy

On February 21, 2024, the Ministry of Justice, the National Development and Reform Commission, and the Legislative Affairs Commission of the Standing Committee of the National People’s Congress jointly organized a symposium on the legislation of the Private Economy Promotion Law and listened to the views and suggestions of representatives of private enterprises, as well as experts and scholars on the legislation.

The symposium called for focal work to address the core concerns of private enterprises, such as protecting the property rights of private enterprises and the rights and interests of entrepreneurs in accordance with the law, fair participation in market competition, equal access to production factors, fair law enforcement and impartial justice, delayed payments for small and medium-sized enterprises, etc. It also called for establishing and improving relevant systems, maintaining consistency and stability in policy formulation and implementation through the thinking and methods of the rule of law, further boosting confidence, stimulating the endogenous driving force and innovative vitality of various business entities, and promoting the accelerated development of new quality productive forces.