The 15th meeting of the 14th National People's Congress Standing Committee continues to review the draft law on promoting private economy.

The 15th session of the 14th National People's Congress Standing Committee held on the afternoon of April 27th conducted a group review of the third draft of the Private Economy Promotion Law. In December 2024 and February 2025, the Private Economy Promotion Law has been reviewed twice during the 13th and 14th sessions of the National People's Congress Standing Committee. Members of the Standing Committee generally believe that the enactment of the Private Economy Promotion Law will elevate the major policies and important measures of the Central Committee of the Communist Party of China to promote the development of the private economy into legal norms. This will consolidate the achievements of private economy development over the past forty years of reform and opening up. For the first time, it will incorporate into the law the policies of "firmly consolidating and developing the public sector of the economy without wavering, encouraging, supporting, and guiding the development of the non-public sector of the economy," as well as "promoting the healthy development of the private economy and the healthy growth of private entrepreneurs." This law also explicitly defines the legal status of the private economy and specifies that promoting the continuous, healthy, and high-quality development of the private economy is a long-term major policy that the country will adhere to. This fully reflects the ideological and practical continuity and advancement of our party and country in the development of the private economy, in line with the Constitution's provisions on the socialist basic economic system. It is very necessary and of great significance to integrate the legal system that supports and safeguards the development of the private economy into the socialist legal system with Chinese characteristics. Members of the Standing Committee proposed that the legislation of the Private Economy Promotion Law adhere to scientific, democratic, and legal legislation, publicly solicit opinions twice during the drafting and review process, and widely solicit opinions through 54 legislative contact points. They especially emphasized listening to the opinions of private enterprises in various industries and fields, as a vivid practice of upholding and implementing the full-process people's democracy in legislation work. Members of the Standing Committee stated that after two rounds of review and modification, the draft has fully absorbed opinions and suggestions from various parties, further enriched measures related to serving and safeguarding the development of the private economy, further standardized law enforcement actions, and deeply promoted strict, standardized, fair, and civilized law enforcement. The structure is reasonable, the content is comprehensive, and it is relatively mature. It is recommended to vote for approval at this session of the Standing Committee. At the same time, it is recommended that relevant parties actively carry out publicity and interpretation after the law is passed, fully consolidating social consensus, further unifying thoughts and actions, coordinating the formulation of supporting regulations, and promoting the implementation of various support and protection measures in a coordinated manner, ensuring the political effects, legal effects, and social effects of the implementation of the law. At the same time, members of the Standing Committee also made some suggestions for improvement on the third draft of the law. This article is reproduced from "CCTV News", edited by GMTEight: Liu Jiayin.