Core Viewpoint - The article emphasizes the importance of understanding and implementing the "six persistences" as outlined in the 20th Central Committee's fourth plenary session, which serves as a guiding principle for China's economic and social development during the "14th Five-Year Plan" period [1][2]. Group 1: Key Principles - The "six persistences" include: adherence to the Party's overall leadership, prioritizing the people, promoting high-quality development, comprehensive deepening of reforms, combining effective markets with proactive government, and balancing development with security [2][3]. - These principles are a scientific summary of the experiences gained since the reform and opening-up, reflecting a deepened understanding of the laws governing economic and social development [2][3]. Group 2: Economic Development Strategy - The article highlights the significance of the Party's leadership in navigating challenges and achieving major accomplishments, particularly during the unprecedented circumstances of the pandemic and external pressures [3][4]. - It stresses the need to effectively manage the relationship between the market and government, ensuring that the market plays a decisive role in resource allocation while the government provides necessary support [4][5]. Group 3: Market and Government Interaction - The combination of the "invisible hand" of the market and the "visible hand" of the government is crucial for sustaining economic advantages, with recent policies aimed at boosting domestic demand and supporting enterprises [4][5]. - The establishment of a unified national market and the promotion of fair competition are essential for enhancing resilience and unlocking potential in China's economic development [4][5]. Group 4: Future Outlook - The article concludes with a call to action for the implementation of the principles from the 20th Central Committee's fourth plenary session, emphasizing the need for perseverance and commitment to achieving the second centenary goal [6].

Group 1 - The core viewpoint of the article emphasizes the importance of the socialist economic system, which includes public ownership as the mainstay and multiple forms of ownership coexisting, reflecting the superiority of the socialist system [3][4][5] - The article outlines three main aspects of the economic system: ownership or property rights system, income distribution system, and resource allocation methods, highlighting the central role of production relations in social production [6][7] - It discusses the significance of resource allocation, defining it as the distribution of various resources for different purposes, and identifies market regulation and government regulation as the two primary methods of resource allocation [7][8] Group 2 - The article explains that in a socialist market economy, the market plays a decisive role in resource allocation, with prices primarily determined by market forces rather than government intervention [8][10] - It emphasizes the need for an active government role in addressing market failures and ensuring effective economic regulation, market supervision, and public service [11] - The article also touches on the classification of fiscal expenditures, distinguishing between uncontrollable and controllable expenditures, and their economic impacts on social production and income distribution [14][15]

Core Viewpoint - The article emphasizes the importance of promoting the high-quality development of the private economy in China, highlighting the significant achievements and contributions of the private sector to the national economy and society, as well as outlining the strategic direction for future growth [2]. Group 1: Importance of Promoting Private Economy - Promoting the private economy is an inherent requirement of adhering to the socialist economic system, which has been established since the reform and opening-up period [3]. - The private sector is a crucial component of a high-level socialist market economy, and its development is essential for optimizing the economic environment and enhancing market vitality [4]. - The private economy has become a major area for entrepreneurship and employment, contributing significantly to technological innovation and national tax revenue [5]. Group 2: Achievements of Private Economy - Since the 18th National Congress, the private economy has seen substantial growth, with the proportion of private enterprises in the total number of enterprises rising from 79.4% in 2012 to over 92% [6]. - The innovation capacity of private enterprises has significantly improved, with their share in national high-tech enterprises increasing from 62.4% to over 92% since 2012 [7]. - Private enterprises have become the largest foreign trade operators in China, contributing over 50% to national import and export volumes [9]. Group 3: Opportunities for Private Economy - The vast domestic market and complete industrial system provide ample opportunities for the development of the private economy, supported by a large middle-income population [11]. - The high-quality labor force and innovative entrepreneurs are crucial for the growth of the private economy, with over 2.5 billion people receiving higher education [12]. - The new round of technological revolution and industrial transformation presents significant opportunities for private enterprises to innovate and expand [14]. Group 4: Strategies for Promoting Private Economy - The government aims to optimize the competitive market environment by implementing fair competition policies and enhancing market access for private enterprises [17]. - There is a focus on increasing support for private enterprises through improved credit evaluation systems and financing mechanisms [19]. - Legal protections for private enterprises and entrepreneurs are being strengthened through the implementation of the Private Economy Promotion Law [20]. Group 5: Challenges and Solutions - Despite the progress, the private economy faces challenges such as market access barriers and insufficient protection of property rights [15]. - The government emphasizes the need for consistent policy implementation and effective communication with private enterprises to address their concerns [21]. - Encouraging private enterprises to enhance their capabilities and engage in international cooperation is essential for overcoming challenges and achieving sustainable growth [22].

Core Points - The "Private Economy Promotion Law" was passed by the National People's Congress and will take effect on May 20, 2025, establishing legal support for the development of the private economy in China [2][3] - The law emphasizes the importance of the private economy as a vital component of the socialist market economy and a key driver for high-quality development and modernization in China [3] Summary by Sections - **Legislation Overview** - The "Private Economy Promotion Law" incorporates the Party and State's policies and effective practices regarding the development of the private economy into the legal framework of socialism with Chinese characteristics [2] - The law explicitly states the commitment to both public and private ownership, ensuring the coexistence of various economic forms [2] - **Economic Positioning** - The private economy is recognized as an essential part of the socialist market economy and a significant force in achieving national modernization and the rejuvenation of the Chinese nation [3] - The law aims to promote sustainable, healthy, and high-quality development of the private economy as a long-term national policy [3]

Core Points - The promulgation of the Private Economy Promotion Law is a significant measure to provide legal protection for the sustainable, healthy, and high-quality development of the private economy in China [1][2][3] - The law aims to consolidate the achievements of the private economy over the past 40 years of reform and opening up, reflecting the Party's commitment to the development of the private economy [2][3] - The law establishes the legal status of the private economy and emphasizes the importance of promoting its continuous, healthy, and high-quality development as a long-term national policy [3][4] Legislative Process - The legislative process for the Private Economy Promotion Law involved extensive research, public consultation, and the formation of a drafting team comprising 17 central government units [5][6] - The draft law was publicly solicited for opinions multiple times, ensuring a democratic and scientific approach to legislation [6][7] Key Provisions of the Law - The law consists of 9 chapters and 78 articles, outlining guiding principles, requirements for fair competition, and measures to optimize the investment and financing environment for private enterprises [8][9] - It emphasizes the need for equal treatment of all economic entities, the protection of private property rights, and the encouragement of private enterprises to engage in technological innovation [10][11] - The law also establishes mechanisms for effective communication between government and enterprises, ensuring the protection of the rights and interests of private economic organizations and their operators [11][12]