Core Points - The implementation of the Private Economy Promotion Law on May 20, 2025, marks a significant milestone in the development of the private economy in China, providing a solid legal guarantee for its growth [1][3] - The law emphasizes the importance of the All-China Federation of Industry and Commerce (ACFIC) in promoting the healthy development of the private economy and the growth of private entrepreneurs [1][3] Group 1: Legal Framework and Guidance - The Private Economy Promotion Law is guided by Xi Jinping's thoughts on socialism with Chinese characteristics and aims to promote the "two healthy" objectives, solidifying the legal status of the private economy [3][4] - The law encapsulates the Party and the state's major policies regarding the development of the private economy, demonstrating a firm commitment to its growth [3][4] Group 2: Role of ACFIC - ACFIC serves as a crucial link between the Party, government, and private entrepreneurs, with a primary responsibility to enhance ideological and political guidance for private economic actors [4][5] - The law provides a legal basis for ACFIC to fulfill its mission of promoting the "two healthy" objectives, ensuring that private entrepreneurs understand and comply with the evolving legal framework [4][5] Group 3: Policy Implementation and Support - The law outlines systematic arrangements for fair competition, investment promotion, technological innovation, and rights protection, addressing the real concerns of private enterprises [5][6] - It emphasizes the need for ACFIC to collaborate with government departments to ensure the effective implementation of policies that support the private economy [5][6] Group 4: High-Quality Development - The law highlights the importance of high-quality development as a primary task in building a modern socialist country, encouraging private enterprises to focus on quality and innovation [7][8] - It includes specific provisions to support technological innovation, aiming to enhance the internal development dynamics and innovation capabilities of private enterprises [7][8]

Group 1 - The core viewpoint of the article emphasizes the significance of the draft law on promoting the private economy, which has been reviewed multiple times by the National People's Congress (NPC) [1] - The draft law incorporates the principles of "two unwavering" and promotes "two healthy" into legal norms, reflecting the central government's major policies for the development of the private economy [1] - The upcoming steps involve further revisions of the draft law based on the NPC Standing Committee's reviews and various opinions, aiming for the law to be enacted promptly [1]