Hey there! 🎉 Big news coming from the Chinese mainland! China just rolled out a draft law aimed at giving a major boost to private businesses. This is the first time they've crafted a basic law focusing specifically on the private sector. 📈
So, what's the scoop? 🍿 The draft law, which has 77 articles spread over nine chapters, is all about leveling the playing field for private businesses. It promises equal treatment and protection, making sure that private enterprises can compete fairly and thrive. Sounds like a game-changer, right? 💡
Qi Xiangdong, vice-chairman of the All-China Federation of Industry and Commerce, said a law-based market is the best business environment. \\"The draft law is practical and effective,\\" he told Cailian Press. It seems the draft reflects what private enterprises have been hoping for and clearly lays out the responsibilities of different departments and localities. 🙌
The law covers everything from ensuring private businesses can compete fairly, improving how they can get investments and financing, supporting tech innovations, optimizing services, and strengthening the protection of their rights and interests. It also talks about better regulating and guiding these enterprises to promote healthy development while safeguarding the legitimate rights of their employees. 👩💼👨💼
One cool thing is that the draft proposes a nationwide unified negative list system for market access. What's that mean? Basically, in areas not on the list, all types of economic entities, including private enterprises, can enter the market equally according to the law. 👍
Wang Yi, vice-president of Renmin University of China, mentioned that the draft law puts a lot of focus on supporting technological innovation with many practical measures. 🚀 It supports private enterprises investing in strategic emerging industries and future industries, encourages them to upgrade traditional industries, and even participate in building modern infrastructure.
Private businesses might also get to lead major technological breakthroughs and gain access to major national research infrastructure. Talk about opportunities! 🧪🔬
The draft also highlights the importance of communication between the government and enterprises. When making laws or major decisions that affect market entities, it's important to hear from private enterprises and industry associations. 🗣️
If you're interested in checking it out or sharing your thoughts, the draft is open for public comments until November 8th on the websites of the Ministry of Justice and the National Development and Reform Commission. 📝 Don't miss your chance to have a say!
With all these moves, it looks like China is gearing up to supercharge its private sector. We're excited to see how this unfolds! Stay tuned for more updates. 🌟
Reference(s):
cgtn.com
