Vice Minister of Justice Wang Zhenjiang said at the press conference of the State Information Office on the 8th that the enactment and introduction of the Private Economy Promotion Law defines the effective empirical practices of the Party Central Committee and the State Council regarding the private economy as a legal system, consolidating the results of the reforms, creating a legal environment and social atmosphere conducive to the common development of all forms of ownership, including the private economy, unswervingly doing his own business well, and continuously consolidating the steady recovery and long-term positive trend of China's economy. The Private Economy Promotion Law will come into effect on May 20, 2025. Wang Zhenjiang said that for the first time, the Private Economy Promotion Law incorporated “two unwavering” into the law, the first time that it clarified the legal status of the private economy, and the first time stipulated in the law that “promoting the sustainable, healthy, and high-quality development of the private economy is a major policy that the country has adhered to for a long time”, fully demonstrating the firm determination of the Party Central Committee to promote the growth of private economic development, and further showing to the community that developing the private economy is a consistent policy and policy that the Party and country will adhere to for a long time.

Vice Minister of Justice Wang Zhenjiang said at the press conference of the State Information Office on the 8th that the enactment and introduction of the Private Economy Promotion Law defines the effective empirical practices of the Party Central Committee and the State Council regarding the private economy as a legal system, consolidating the results of the reforms, creating a legal environment and social atmosphere conducive to the common development of all forms of ownership, including the private economy, unswervingly doing his own business well, and continuously consolidating the steady recovery and long-term positive trend of China's economy. The Private Economy Promotion Law will come into effect on May 20, 2025. Wang Zhenjiang said that for the first time, the Private Economy Promotion Law incorporated “two unwavering” into the law, the first time that it clarified the legal status of the private economy, and the first time stipulated in the law that “promoting the sustainable, healthy, and high-quality development of the private economy is a major policy that the country has adhered to for a long time”, fully demonstrating the firm determination of the Party Central Committee to promote the growth of private economic development, and further showing to the community that developing the private economy is a consistent policy and policy that the Party and country will adhere to for a long time.