Group 1 - The core viewpoint of the news is the enactment of the "Private Economy Promotion Law" in China, which aims to support and regulate the development of the private economy, emphasizing the importance of the rule of law in a socialist market economy [1][2] - The law consists of 9 chapters and 78 articles, outlining specific regulations on fair competition, investment promotion, technological innovation, and protection of rights, which are essential for the healthy development of the private economy [1][2] - The private economy has significantly contributed to China's economic landscape, accounting for over 50% of tax revenue, over 60% of GDP, and over 70% of technological innovations, as well as 90% of urban job creation and enterprise numbers [1][2] Group 2 - The establishment of the "Private Economy Promotion Law" is a key initiative from the 20th Central Committee's third plenary session, aimed at solidifying reform achievements and enhancing development confidence amidst external challenges like unilateralism and trade protectionism [2][3] - The law promotes a unified market access negative list system and supports private economic organizations in obtaining direct financing through stock and bond issuance, which will improve the business environment for private enterprises [3] - Measures such as establishing a credit repair system and prohibiting illegal administrative or criminal interference in economic disputes are included to ensure fair market competition and foster the growth of private economic entities [3]

Group 1 - The core viewpoint is that the terms "planned economy" and "market economy" are often misunderstood, with the former not equating to a well-planned economy and the latter not equating to a lack of planning [3][4] - Planned economy is characterized by command and authority, where a few individuals dictate plans for the many, leading to potential inefficiencies and uncertainties [4][6] - Market economy relies on a dynamic pricing system where market participants and consumers make decisions, reducing the power of bureaucratic elites [9][11] Group 2 - Planned economy is described as a system governed by administrative commands and centralized authority, which can lead to significant failures if lower levels do not comply or have too much autonomy [6][7] - Market economy is defined as a system where resources are allocated based on market dynamics rather than administrative intervention, emphasizing the importance of legal frameworks that bind both elites and market participants [9][11] - The distinction between planned and market economies is framed as a difference between rule by people (human governance) and rule by law (legal governance) [11]