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New Trends in the Legislation of the Private Economy Promotion Law: It will be submitted for the first review by the Standing Committee of the National People's Congress.
On December 19, the Legislative Work Committee of the Standing Committee of the National People's Congress held a press conference. Cover News reporters learned from the conference that the Private Economy Promotion Law is about to be submitted for the first review by the Standing Committee of the National People's Congress.
Wang Xiang, spokesperson for the Legislative Work Committee of the Standing Committee of the National People's Congress.
Wang Xiang, spokesperson for the Legislative Work Committee of the Standing Committee of the National People's Congress, introduced at the press conference that promoting the sustained, healthy, and high-quality development of the private economy is a major policy that the country has long adhered to. The Central Committee attaches great importance to promoting the development of the private economy, and the 20th Central Committee's Third Plenary Session clearly proposed the formulation of the Private Economy Promotion Law. The recently concluded Central Economic Work Conference explicitly proposed the introduction of the Private Economy Promotion Law. The formulation of the Private Economy Promotion Law has been included in the legislative work plan of the Standing Committee of the National People's Congress for 2024, with the National Development and Reform Commission and the Ministry of Justice leading the drafting, and the State Council submitting it for review.
Wang Xiang pointed out that formulating the Private Economy Promotion Law is beneficial for adhering to the Party's leadership, maintaining the "two unwavering principles," treating and protecting all types of ownership equally according to the law, fully exerting the decisive role of the market in resource allocation, and better playing the role of the government. The principles and overall requirements that should be followed to promote the development of the private economy, such as ensuring fair competition, improving the investment and financing environment, supporting technological innovation, focusing on regulation and guidance, optimizing service guarantees, and strengthening rights protection, will be elevated to legal norms. This has significant and far-reaching implications for further optimizing the development environment of the private economy, accelerating the construction of a new development pattern, promoting high-quality development, and comprehensively advancing the great rejuvenation of the Chinese nation through Chinese-style modernization.
On February 21 of this year, the Ministry of Justice, the National Development and Reform Commission, and the Legislative Work Committee of the Standing Committee of the National People's Congress jointly organized a legislative symposium on the Private Economy Promotion Law, listening to the opinions and suggestions of representatives from private enterprises and experts and scholars regarding the legislation, marking the official launch of the drafting work for the Private Economy Promotion Law.
On October 10, the Ministry of Justice and the National Development and Reform Commission publicly solicited opinions on the "Draft of the Private Economy Promotion Law of the People's Republic of China (Draft for Comments)." Four days later, Deputy Minister of Justice Hu Weilie stated at a press conference held by the State Council Information Office that since the draft was publicly solicited for opinions, the Ministry of Justice has received more than a thousand opinions and suggestions. Once this law is passed, it will surely promote the sustained, healthy, and high-quality development of the private economy, creating a better environment for the common development of various types of ownership economies, including the private economy.
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