CCTV News: On the morning of May 8, the State Information Office held a press conference to introduce the relevant situation of the "Private Economy Promotion Law of the People's Republic of China". Wang Ruihe, deputy director of the Legislative Affairs Committee of the Standing Committee of the National People's Congress, said at the meeting that the formulation of the Law on Promotion of the Private Economy will establish the basic principles and policies of the Party and the State on the development of the private economy in a legal way, and integrate the provisions of the Constitution on the basic socialist economic system, and integrate the legal system that supports and protects the development of the private economy into the socialist legal system with Chinese characteristics, which has great constitutional significance and innovative significance for the rule of law.
The Private Economy Promotion Law clearly states that "this Law is formulated in accordance with the Constitution", and stipulates that the state upholds and improves the basic socialist economic system, unswervingly consolidates and develops the public economy, and unswervingly encourages, supports and guides the development of the non-public economy; the private economy is an important part of the socialist market economy, a new force in promoting Chinese-style modernization, an important foundation for high-quality development, and an important force in promoting my country's comprehensive construction of a socialist modern power and realizing the great rejuvenation of the Chinese nation; promoting the sustained, healthy and high-quality development of the private economy is a major policy and policy that the country has long adhered to.
The formulation and promulgation of the Private Economy Promotion Law fully demonstrates that our party and the country’s basic policies and policies for the development of the private economy will not change, nor will it change. It will surely promote the legal system to support the high-quality development of the private economy to be more sound and complete, and the guarantee system will be more powerful and effective.
