(W.E. Talk) Expert: China’s private sector promotion law activates market vitality comprehensively

Recently, China’s private sector promotion law officially took effect. In the latest W.E. Talk, Yang Decai, a member of the 14th National Committee of the CPPCC, and Director of NJU Private Economy Institute, noted that the law uniquely dedicates a chapter to technological innovation. It introduces measures such as market access negative lists, fair competition review, R&D incentives, and intellectual property protection, clearly positioning private enterprises as the primary agents of innovation and ensuring their equal access to capital, technology, public services, and data.

Yang said that China’s law covers investment, rights protection, standardized operations, and legal accountability across the entire value chain, unleashing market vitality and driving high-quality growth of the private sector, with profound implications for China’s innovation ecosystem. (Chen Tianhao)