
Core Points - The "Private Economy Promotion Law" was passed by the 15th meeting of the 14th National People's Congress Standing Committee and will take effect on May 20, 2025, marking a significant step in optimizing the development environment for the private economy in China [1] - The law aims to enhance the legal business environment for private enterprises, boosting their confidence and development momentum [2][3] Group 1 - The law focuses on establishing a fair market access system for private economic organizations, including a nationwide negative list for market access and ensuring equal use of production factors and public services [3] - The promotion of fair competition and the reduction of monopolistic and unfair competition behaviors are key aspects of the law [3][4] - The emphasis on "equality" in the law signifies equal treatment for state-owned and private enterprises, which is considered a core point of the legislation [4] Group 2 - The law supports private economic organizations in participating in national technology research projects, which is expected to enhance the quality of development for private enterprises [5] - The involvement of private enterprises in major technological breakthroughs is seen as crucial for the country's economic transformation and upgrading [5] - The company plans to leverage current policies and technological advancements to address key challenges in agricultural modernization [7]