On Thursday, China's State Council Information Office (SCIO) hosted a press briefing focused on the country's new private sector promotion law. Vice Minister of Justice Wang Zhenjiang joined senior officials to discuss how the legislation will invigorate business confidence.
Representatives from the Legislative Affairs Commission of the Standing Committee of the National People's Congress, the National Development and Reform Commission, the National Financial Regulatory Administration, and the All-China Federation of Industry and Commerce took questions from the press.
Wang Zhenjiang outlined the law's core aim: protecting the rights of private enterprises while ensuring fair competition across industries. He emphasized that clearer legal frameworks can help entrepreneurs navigate the market with confidence.
Officials detailed plans to streamline regulatory processes and improve risk management measures. By reducing red tape and setting transparent rules, the law is designed to support startups and established businesses alike.
The briefing highlighted the government's commitment to fostering innovation, safeguarding property rights, and boosting sustainable growth in the Chinese mainland.
As the private sector adapts to this new legal environment, global investors and local entrepreneurs will be watching closely to see how these provisions translate into real-world impact.
Reference(s):
cgtn.com
