Core Points - The Private Economy Promotion Law officially took effect on May 20, marking China's first foundational law specifically for the development of the private economy, establishing the legal status of private enterprises and entrepreneurs, and emphasizing the importance of protecting their rights and promoting sustainable development [1] Group 1: Implementation and Local Response - The local government is actively addressing the concerns of private enterprises to ensure the effective implementation of the Private Economy Promotion Law, with private business entities accounting for over 95% of the total in the city [2] - The number of private high-tech enterprises reached 1,375, reflecting an 11.07% year-on-year growth, highlighting the increasing role of private enterprises in innovation [2][3] - The city has organized multiple forums and activities to facilitate communication between the government and private enterprises, aiming to collect feedback and enhance problem-solving [2][3] Group 2: Specific Measures and Economic Contributions - The "Work Points" document outlines 29 specific measures across six key areas to create a fair business environment, encourage private investment, and protect the rights of private enterprises [3] - In the first quarter, the city's private industrial output value reached 21.175 billion, with a year-on-year growth of 9.2%, contributing 77.1% to the overall industrial growth [3] - Private investment totaled 20.808 billion, accounting for 71% of total social investment, indicating a strong reliance on private sector contributions [3] Group 3: Financial Support and Investment Activation - Financial support for private enterprises is a focal point, with the establishment of a government-bank-enterprise cooperation platform to facilitate financing [5] - As of the first quarter, over 21,600 enterprises received credit totaling 110.414 billion, with loans amounting to 85.475 billion, demonstrating significant financial backing for private businesses [6] - The city is compiling a list of 73 key projects for private investment, with a planned total investment of 14 billion, focusing on traditional and emerging industries [6][7]

Core Viewpoint - The seminar held in Chengdu aimed to explore new paths for the high-quality development of the private economy under the legal framework established by the "Private Economy Promotion Law" [3][5][12] Group 1: Legislative Framework - The "Private Economy Promotion Law" is seen as a significant milestone in the development of China's private economy, reflecting the central government's commitment to supporting this sector [5][6] - The law's implementation marks the beginning of a new phase where legal frameworks will safeguard the development of private enterprises [12] Group 2: Collaborative Efforts - The seminar brought together government officials, representatives from state-owned and private enterprises, and experts to discuss the optimization of the business environment [3][12] - Participants emphasized the need for broad promotion and the acceleration of supporting regulations, such as the "Sichuan Province Private Economy Promotion Regulations" [5] Group 3: Discussion Themes - Key discussion topics included fair competition, legal support for business operations, rights protection, and innovative development [12] - The event facilitated a platform for policy interpretation and practical cooperation, aiming to provide market-oriented solutions for the high-quality development of Sichuan's private economy [12]

Core Viewpoint - The implementation of the "Private Economy Promotion Law" in China aims to provide legal support for the sustainable development of private enterprises by optimizing the investment and financing environment [1][2]. Group 1: Progress in Optimizing Investment and Financing Environment - Significant progress has been made in optimizing the investment and financing environment for private enterprises, highlighted by the legislative process of the Private Economy Promotion Law initiated in 2023 and pilot programs in provinces like Zhejiang and Guangdong [2]. - The establishment of the Beijing Stock Exchange, which serves innovative small and medium-sized enterprises, has seen 263 companies listed as of January this year, with over 80% being small and nearly 90% being private enterprises [2]. - Initiatives such as the "first loan" cultivation mechanism in Shenzhen have benefited over 400,000 first-time borrowers, while innovations in financial tools like supply chain finance and "science and technology notes" have helped thousands of private enterprises secure financing [2]. Group 2: Existing Challenges - Despite advancements, challenges remain, including persistent institutional barriers, inadequate enforcement of property rights protection, and a lack of innovative credit products tailored for light-asset technology enterprises [3]. - Many small and medium-sized private enterprises are still excluded from the core enterprise credit chain, and the risk pricing mechanism is failing [3]. Group 3: Future Directions for Improvement - Future efforts should focus on addressing pain points by enhancing institutional guarantees, market guidance, and financial support for private enterprises [3]. - The law emphasizes core provisions for property protection, market access, and financing support, encouraging private enterprises to participate in national strategies and enjoy state support policies [3]. - Recommendations include implementing differentiated credit policies, expanding policy guarantees, and strengthening multi-tiered capital market support [3]. Group 4: Corporate and Investor Strategies - Corporations should enhance their financing capabilities and governance by optimizing asset structures and financing strategies, including leveraging intangible assets for financing [4]. - Companies are encouraged to explore diverse financing channels such as supply chain finance and real estate investment trusts (REITs) [4]. - Investors and financial institutions should provide innovative products tailored to private enterprises, such as "technology loans" and "talent loans," while establishing special investment funds to encourage investment in growth-oriented private enterprises [4].

Core Points - The implementation of the Private Economy Promotion Law signifies a supportive shift towards private enterprises in China, as expressed by various entrepreneurs during a recent event [1] Group 1: Efficient Policy Implementation - Entrepreneurs expect more efficient policy implementation, citing examples of rapid certification processes that demonstrate government support for private enterprises [2] - The law encourages private enterprises to participate in national technology projects, enhancing their competitiveness [2] - Financial institutions are expected to provide more tailored support for small and micro enterprises, including reduced loan risk weights and improved access to credit [2] Group 2: Standardized Law Enforcement - The law aims to standardize law enforcement related to enterprises, addressing issues such as inconsistent enforcement and arbitrary fees [3] - The government is taking steps to facilitate the transformation of individual businesses into enterprises, providing guidance and support [3] Group 3: Improved Government-Enterprise Communication - The law establishes mechanisms for effective communication between government and enterprises, ensuring that the voices of private businesses are heard [5] - The National Development and Reform Commission has conducted numerous meetings with private enterprises to address their concerns and improve policy implementation [5] - The All-China Federation of Industry and Commerce aims to enhance its role in representing private enterprises and facilitating communication with government bodies [5]

党中央、国务院高度重视发展民营经济。作为我国第一部专门关于民营经济发展的基础性法律，《民营 经济促进法》积极回应民营经济发展中的重点关切，围绕公平竞争、投资融资促进、科技创新、规范经 营、服务保障、权益保护等方面建立完善相关制度机制，将党中央对民营经济平等对待、平等保护的要 求落下来，持续优化稳定、公平、透明、可预期的民营经济发展环境。 庄聪生表示，《民营经济促进法》在民营经济发展史上具有里程碑意义，将坚持"两个毫不动摇"写入法 律，上升为国家意志，充分体现出党和国家促进民营经济发展的坚定决心、战略定力和鲜明立场，给广 大民营企业吃下了"定心丸"。《民营经济促进法》的施行，将更好发挥法治固根本、稳预期、利长远的 保障作用。 5月20日，《中华人民共和国民营经济促进法》正式施行。中国国际经济交流中心当天举办第185期"经 济每月谈"，以"落实《民营经济促进法》更好激发民营经济活力"为主题，邀请全国工商联原党组成 员、专职副主席庄聪生，中国电子信息行业联合会常务副会长周子学，浙江大学文科学术咨询委员会主 任史晋川，中国政法大学教授李曙光发表主旨演讲，国经中心副理事长胡晓炼主持会议。 融资难、融资贵一直是我国民营企 ...

中央纪委国家监委网站 王霞 慕振东 近日，在内蒙古自治区鄂尔多斯市东胜区政务服务中心，工作人员正在办理民营企业相关业务。 新华 社记者 李志鹏 摄 特邀嘉宾 李兆前 中国民营经济研究会会长 王利明 中国法学会副会长 田 轩 清华大学国家金融研究院院长 5月20日，《中华人民共和国民营经济促进法》（以下简称"民营经济促进法"）正式施行。作为第一部 专门关于民营经济发展的基础性法律，民营经济促进法的制定出台是贯彻落实党的二十届三中全会《决 定》和习近平总书记在民营企业座谈会上的重要讲话精神的重大举措，在我国民营经济发展历程中具有 里程碑意义。 记者：民营经济促进法的出台，有怎样的背景，释放了怎样的信号和信心？ 田轩：改革开放以来，在党的理论和路线方针政策指引下，我国民营经济从小到大、由弱到强，不断发 展壮大，成为国民经济的重要组成部分。党和国家一贯坚持"两个毫不动摇"，坚持"公有制为主体、多 种所有制经济共同发展"的基本经济制度，强调民营经济是社会主义市场经济的重要组成部分。民营经 济促进法的出台，是对一贯方针政策的延续和深化，并通过法律形式进一步明确了民营经济的地位和作 用，以稳定性法律来替代阶段性政策，明确规 ...

Group 1: Monetary Policy and Market Operations - The central bank conducted a 7-day reverse repurchase operation on May 21, with a fixed rate of 1.40%, totaling 157 billion yuan, resulting in a net injection of 65 billion yuan for the day after accounting for maturing reverse repos [2][3] - The interbank market remains liquid as the central bank continues to inject liquidity ahead of tax deadlines, leading to a slight decrease in overnight and 7-day pledged repo rates by approximately 1 basis point [4] Group 2: Interest Rates and Bonds - The latest one-year interbank certificates of deposit are trading around 1.69%, showing a slight increase from the previous day [8] - The yields on major interbank government bonds have shown varied movements, with the 1-year yield at 1.4450%, 2-year at 1.4725%, and 10-year at 1.6760%, reflecting changes in market sentiment [10] - The closing prices for government bond futures indicate a slight decline in the 30-year contract by 0.08%, while the 5-year and 2-year contracts saw minor increases [13] Group 3: Economic and Trade Developments - The National Development and Reform Commission, along with other ministries, held a face-to-face event discussing the "Private Economy Promotion Law" with representatives from 29 private enterprises, focusing on financing support and technology collaboration [14] - China and ASEAN countries have completed negotiations on the 3.0 version of the China-ASEAN Free Trade Area, which includes new chapters on digital economy, green economy, and supply chain connectivity [14] Group 4: Global Economic Insights - The Trump administration is considering an executive order to explore the feasibility of allowing private capital groups to participate in 401k plans, although no decisions have been made yet [16] - Recent negative events in the bond market include downgrades in ratings for several companies, indicating potential risks in the bond sector [17]

5月20日起，民营经济促进法正式施行。作为第一部专门关于民营经济发展的基础性法律，民营经济促 进法把党和国家对民营经济平等对待、平等保护的要求用法律制度落实下来，其制定出台是民营经济发 展的一块里程碑。 读懂这部法律的"含金量"，可以先看看其创下的众多"第一次"—— 第一次将"毫不动摇巩固和发展公有制经济，毫不动摇鼓励、支持、引导非公有制经济发展"写入法律； 第一次明确民营经济的法律地位；第一次明确规定"促进民营经济持续、健康、高质量发展，是国家长 期坚持的重大方针政策"；等等。 这些"第一次"分量有多重？ 占企业总量超九成，对进出口和税收的贡献达到五成以上，对城镇就业的贡献达到八成以上……中国经 济社会发展创造"两大奇迹"，民营经济功不可没。同时，受内外因素交织影响，当前民营经济发展也面 临一些困难和挑战，甚至有段时间，社会上还有些诸如"民营经济离场论"的奇谈怪论，混淆视听、干扰 信心。 党和国家对民营经济发展的基本方针政策，不能变，也不会变。制定出台民营经济促进法，充分彰显党 中央促进民营经济发展壮大的坚定决心，可以说是民营企业安心谋发展的"定心丸"。 民营经济促进法的"含金量"，还体现在现实针对性上。 ...

《中华人民共和国民营经济促进法》5月20日起正式施行，备受广大民营经济组织关注，在社会各界引 起强烈反响。民营企业家对这部新法怎么看？新法施行对民营经济发展将起到哪些作用？记者近日专访 了全国政协委员、广东高科技产业商会会长王理宗。他认为，民营经济促进法为民营经济组织送来 了"身份证"和"通行证"，是民营经济进入新阶段的宣言书，更是一座中国经济发展和法治建设的里程 碑。 肯定民营经济组织平等法律地位的"身份证" 谈到新法施行，王理宗表示，《中华人民共和国民营经济促进法》的施行在中国大地上响起阵阵春雷， 其意义非常重大。这部法律让无数民营企业家如释重负，让更多企业家对未来发展奠定了可持续性的良 好预期。他认为，这是为民营经济组织发放了一张和其他各类经济组织具有同等法律效力的"身份证"。 王理宗表示，改革开放以来，民营经济为中国经济社会建设作出了巨大贡献。《中华人民共和国民营经 济促进法》的出台。体现了党和政府对民营经济发展的高度重视，充分肯定了民营经济在中国经济社会 发展过程中的地位、作用和价值，也足以说明"民营企业、民营企业家是自己人"。"这张'身份证'打消了 很多民营企业家的顾虑，真正让他们能放下包袱、轻装 ...

� ty � . � ◆ . ◆ . . 5月20日，《中华人民共和国民营经济促进法》正式实施。当天，广州市白云区司法局联合广东省法学会民营经济法治研究会、白云区工商联、民科园管委 会、白云产业投资集团，在广州法务大厦举办"良法促善治 云企添活力"主题宣传活动。 据悉，这是《中华人民共和国民营经济促进法》实施首日、全国首场民营经济促进法专题宣传活动。 当天，活动通过"政策+法律+实务"三重解读，为来自智能制造、新能源、建筑工程等领域的100余家企业送上法治"大礼包"。 其中，广东省法学会民营经济法治研究会会长陈云良从民营经济促进法的立法背景、立法目的、重要意义、核心要义等方面，进行专题解读；广州知识产权 法院商标及不正当竞争审判庭副庭长蒋华胜结合知识产权司法保护公平竞争典型案例，分析权益保护的关键要素和有效路径，鼓励企业提升知识产权重视程 度和保护意识，增强创新创造能力。 在打造法治化营商环境新标准方面，白云区探索行政执法包容审慎监管机制，推动涉企行政检查"亮码入企"，设立行政执法监督企业联系点。目前白云区市 场主体超63万户，其中95%以上是民营企业，区内建有国家级民营科技园。 在构建政企联动营商新生态方面 ...