Legislative Developments - The National People's Congress (NPC) Standing Committee has scheduled 14 legal proposals for continued review and 23 for initial review in 2025, including the Private Economy Promotion Law and Financial Law [1] - The Private Economy Promotion Law is expected to advance with a third draft review scheduled for April 27-30, aiming to enhance the legal environment for the healthy and high-quality development of the private economy [1] - The Financial Law and Financial Stability Law are also under scrutiny, with the People's Bank of China advocating for their expedited introduction to strengthen financial risk management [2] Financial Regulatory Framework - The current financial legal framework in China is characterized by fragmentation and lacks a comprehensive foundational law to unify and coordinate various financial regulations [2] - International experience suggests that many developed economies have achieved regulatory unity through foundational financial legislation, which China is encouraged to consider [2] - The People's Bank of China Law, established in 1995, has not undergone significant revision since 2003, indicating a need for updates to address existing gaps in monetary policy and financial stability [3]