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]

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: Legal Framework for High-Quality Development - The establishment of the "Private Economy Promotion Law" is timely and aims to strengthen the legal protection for the development of the private economy amidst economic pressures [1][2] - The "14th Five-Year Plan" emphasizes the need for comprehensive legal governance, including enhancing the legal environment for private enterprises and improving legislation in key and emerging fields [2][3] - The "Private Economy Promotion Law" highlights principles of "equal treatment" and "fair competition," ensuring that both state-owned and private enterprises are treated equally under the law [2][3] Group 2: Legislative Developments - The "Company Law" underwent a comprehensive revision in 2023, focusing on optimizing corporate governance and enhancing shareholder rights protection [3] - Several laws related to economic high-quality development, such as the "Rural Collective Economic Organization Law" and the "Value-Added Tax Law," have been introduced or revised during the "14th Five-Year Plan" period [3] - New regulations in emerging fields, such as the "Network Data Security Management Regulations," have been established to address issues related to data security and artificial intelligence [4] Group 3: Foreign-related Legislation - The "14th Five-Year Plan" has accelerated the process of foreign-related legislation, with laws like the "Foreign Relations Law" and "Anti-Foreign Sanctions Law" being enacted [6] - As of January 2025, there are 54 specialized foreign-related laws and over 90 foreign-related administrative regulations in effect [6] - The focus of foreign-related legislation is shifting from framework establishment to refining existing rules and addressing specific legislative gaps [6] Group 4: Governance and Regulatory Environment - The "14th Five-Year Plan" outlines the need for a law-based government and emphasizes the importance of administrative law enforcement reform to create a fair business environment [7][8] - Recent initiatives have aimed to standardize administrative penalties and reduce unnecessary inspections on enterprises, thereby alleviating their operational burdens [8][9] - A nationwide campaign has been launched to address issues such as arbitrary fees and inspections, with significant financial recoveries reported for affected businesses [9] Group 5: Future Legal Construction - The upcoming "15th Five-Year Plan" will focus on addressing new challenges in legal construction, particularly in emerging fields like artificial intelligence and digital economy [10][13] - The establishment of a legal framework for artificial intelligence is seen as essential for ensuring high-quality development and safety [10][11] - The need for a coordinated legal governance system that addresses the unique aspects of artificial intelligence and related technologies is emphasized [12][13]

Core Viewpoint - The "Private Economy Promotion Law" is China's first foundational law specifically aimed at the development of the private economy, focusing on fair competition, investment financing, technological innovation, and the protection of rights and interests, set to take effect on May 20 this year [2][5]. Group 1: Legislative Background - The law was proposed and included in the legislative work plans of the National People's Congress and the State Council, with a drafting team formed by 17 central units to conduct thorough research and solicit public opinions [4]. - The law underwent three rounds of review by the National People's Congress in less than 18 months, indicating its significant importance and strong consensus in the legislative process [4]. Group 2: Importance of the Law - The law transforms the policies and practices supporting the private economy into a legal framework, emphasizing equal treatment, fair competition, and the protection of private enterprises [5][6]. - It marks a milestone in the history of private economic development in China, establishing a legal basis for the private economy as a vital component of the socialist market economy [6]. Group 3: Key Provisions - The law consists of 9 chapters and 78 articles, covering general principles, fair competition, investment promotion, technological innovation, operational standards, service guarantees, rights protection, legal responsibilities, and supplementary provisions [6][7]. - Fair competition is highlighted as a fundamental principle, with specific regulations ensuring equal participation of all economic entities in the market [6][7]. Group 4: Implementation and Support - The law addresses common concerns of private enterprises regarding market access, resource allocation, rights protection, and enforcement of laws, establishing clear legal responsibilities for violations [7][9]. - The government plans to enhance the legal framework and ensure effective implementation of the law, promoting a favorable environment for private enterprises to operate [9][10].

Group 1 - The National People's Congress (NPC) Standing Committee has passed the Private Economy Promotion Law, which aims to promote the development of the private economy by ensuring equal treatment, fair competition, and protection of rights [2] - The law includes provisions on market access, resource guarantees, standardized operations, service support, and rights protection, contributing to the establishment of a high-level socialist market economy [2] - The NPC is also working on compiling an ecological environment code, which reflects the principles of ecological civilization and aims to ensure sustainable environmental development [2][3] Group 2 - The newly revised Infectious Disease Prevention Law provides a more comprehensive legal framework for enhancing public health risk management and disease prevention [3] - The NPC has conducted reviews of various legislative drafts, including the Atomic Energy Law and the Arbitration Law, emphasizing the importance of thorough research and improvement of these drafts [3] - The NPC is focused on deepening ecological civilization reforms and improving environmental quality, as well as enhancing supervision of state asset management [3][4]

4月25日，全国人大常委会法制工作委员会发言人黄海华在记者会上介绍《全国人大常委会2025年度立 法工作计划》（下称"立法工作计划"）重点内容。今年，全国人大常委会共安排继续审议的法律案14 件、初次审议的法律案23件，其中包括制定民营经济促进法、金融法、金融稳定法；修改反不正当竞争 法、企业破产法、中国人民银行法、银行业监督管理法。 我国现行的证券法、中国人民银行法、保险法等法律，以及正在推进的立法工作的金融稳定法，都在不 同领域强化了金融监管的法治保障，但从整体来看，现行的金融法律体系呈现分散性和局部性的特点， 缺乏一部统领全局、协调各领域的基础性法律。从国际经验看，许多发达经济体已通过基础性金融立法 实现监管统一。全国人大代表，中国人民银行辽宁省分行原党委书记、行长付喜国在2025年全国两会期 间曾建议，我国可以借鉴国际经验，结合国情制定金融法，提升国际金融规则话语权、强化金融监管的 法治保障。 作为确立中国人民银行地位的法律，中国人民银行法自1995年颁布实施以来，仅2003年经历过一次大 修。全国人大代表，中国人民银行四川省分行行长严宝玉在2025年全国两会期间指出，现行中国人民银 行法在货币政策、 ...

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