China Advances Legislation to Boost Private Sector Involvement in National Strategies

The National Development and Reform Commission is formulating the Private Economic Promotion Law, aimed at improving the institutional mechanisms for private enterprises to participate in national major strategies. This initiative includes protecting business property rights and entrepreneurs' rights and interests, optimizing financing support policies for private enterprises, and promoting fair access for operators in competitive infrastructure sectors.

State-owned enterprise reform will strengthen the management of state-owned economy, optimize its layout and structure. At the same time, it will promote the improvement of modern enterprise systems with Chinese characteristics, fostering more world-class enterprises and facilitating the joint development of various forms of ownership economies.

These measures are designed to invigorate enterprise vitality and implement the "two unswervingly" principles: resolutely consolidating and developing the public sector of the economy, and resolutely encouraging, supporting, and guiding the development of the non-public sector of the economy.