Core Viewpoint - The implementation of the "Private Economy Promotion Law" marks a significant shift in China's approach to private economic development, transitioning from policy support to legal protection, thereby establishing a new era of equal competition for private enterprises [1][3]. Summary by Sections Legal Framework - The "Private Economy Promotion Law" is China's first foundational law specifically addressing private economic development, consisting of 9 chapters and 78 articles, which enshrines the principle of "two unwavering" and clarifies the legal status of private enterprises [3]. - The law establishes a legal framework of "non-prohibition, equal protection," aiming to dismantle market barriers and ensure fair competition [3][4]. Market Access and Competition - Article 10 of the law introduces a nationwide negative list system for market access, providing clear guidelines for private enterprises [3]. - Article 11 mandates government bodies to implement fair competition review systems and regularly eliminate policies that hinder a unified national market [3]. - Article 14 prohibits any restrictions or exclusions against private economic organizations in public resource transactions [3]. Industry Impact: Shared Electric Bicycle Sector - The shared electric bicycle industry, characterized by high marketization and private capital density, serves as a testing ground for the law's effectiveness [4][7]. - Despite clear policy directions, the industry faces multiple hidden barriers, such as fragmented access rules and local protectionism, which hinder new entrants [5][6]. Regulatory Actions and Enforcement - The law empowers antitrust and unfair competition enforcement agencies to prevent and address monopolistic behaviors and administrative abuses that restrict competition [7]. - A special action initiated by the State Administration for Market Regulation aims to rectify administrative power abuses and remove local protectionist barriers [7][8]. Future Directions - Local governments are urged to adhere strictly to the law, eliminate local protectionism, and ensure fair competition for shared electric bicycle enterprises [8]. - The ongoing efforts to clear market access barriers and establish a scientific quota distribution mechanism are expected to invigorate industry innovation [8][9]. - The law's implementation is anticipated to create a new industry ecosystem characterized by fair competition, effective regulation, and legal protection, ultimately enhancing the vitality of the private economy in China [10].