China Unveils Draft Law to Boost Private Sector Growth

The proposed legislation aims to enhance business confidence by ensuring fair competition and protecting private enterprises' rights.

China's Ministry of Justice and the National Development and Reform Commission released a draft law focused on promoting the private sector, open for public input until November 8.
The draft law includes 77 articles across nine chapters, emphasizing equal treatment and protection for private businesses.
It aims to improve the investment and financing environment, support technological innovation, and safeguard economic rights and interests.
The legislation seeks to create a stable, transparent, and predictable business environment to address policy uncertainties and economic challenges.
Provisions include encouraging private sector participation in strategic industries and national scientific research projects.