China adopts law dedicated to promoting private sector

"On April 30, China's lawmakers adopted a fundamental law dedicated to promoting the private sector. This law aims to optimize the development environment for the private economy, ensure fair market competition, and foster sound development of both the private sector and its practitioners." The law comprises 78 articles in nine chapters, covering areas such as fair competition, investment, and financing promotion, scientific innovation, regulatory guidance, service support, rights protection, and legal liabilities.