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On April 30, 2025, the 15th Meeting of the Standing Committee of the 14th National People’s Congress passed <\/span>the Private Economy Promotion Law<\/a> <\/span><\/strong><\/em>(the \u201cPEPL\u201d), which came into force on May 20, 2025.<\/span><\/p>\n The PEPL is prominent not only being the first basic law related to the development of private economy issued in China, shaping the legal framework of private economy law, but also establishing the legal status of private economy for the first time.<\/p>\n The PEPL consists of 9 chapters in total, including General provisions, Fair competition, Investment and financing promotion, Technological innovation, Standardized operations, Service guarantee, Protection of rights and interests, Legal liability and Supplementary provisions.<\/p>\n Private economic organizations refer to profit legal persons, unincorporated organizations, and individual businesses legally established within the territory of China and controlled or actually controlled by Chinese citizens, as well as for profit legal persons and unincorporated organizations controlled or actually controlled by the aforementioned organizations, which are playing an increasingly important role in China\u2019s economic development. Foreign invested enterprises also fall within the scope of private economy organizations.<\/p>\n<\/div>\n <\/p>\n 2. Highlights<\/span><\/strong><\/p>\n 2.1\u00a0 Implementation of the Negative List System<\/span><\/strong><\/p>\n The PEPL implements a nationwide unified Negative List system for market access. Fields outside the Negative List for market access, various economic organizations including private economic organizations can enter equally in accordance with the law. The current number of items on the Negative List has been reduced to 106, no matter state-owned or private enterprises, domestic or foreign, large or small and medium-sized enterprises, can enter equally for market access outside the negative list in accordance with the law.<\/span><\/p>\n<\/div>\n <\/p>\n 2.2 Fair competition review system<\/span><\/strong><\/p>\n <\/p>\n 2.3 Investment and financing promotion<\/span><\/strong><\/p>\n The PEPL promotes investment and financing in private companies in strategic emerging industries, future industries, etc. Additionally, a sound credit information collection and sharing mechanism will be established, which supports credit reporting agencies to provide credit reporting services for private economic organizations to obtain financing, and provides convenience for private economic organizations to obtain financing.<\/p>\n<\/div>\n <\/p>\n 2.4 Technology innovation<\/span><\/strong><\/p>\n The PEPL stipulates that the State encourages and supports private economic organizations to play an active role in promoting scientific and technological innovation, fostering new quality productive forces and <\/span>building a modern industrial system. In addition, private economic organizations will be supported to strengthen the application of new technologies, carry out experiments in the application of new technologies, products, services and modes, give full play to the role of the technology market and intermediary service institutions, and promote the application and promotion of scientific and technological achievements in a variety of ways.<\/p>\n<\/div>\n <\/p>\n 2.5 Rights and interests\u2019 protection<\/strong><\/p>\n The PEPL specifies equal protection of private economy\u2019s rights to build a fair competition market environment with the following:<\/p>\n <\/p>\n <\/p>\n <\/p>\n 3.\u00a0 Impact on Private enterprises<\/strong><\/p>\n Private enterprises shall take into consideration the following for achieving advanced development:<\/p>\n (1) \u00a0 Internal compliance improvement<\/span><\/strong><\/p>\n Establish or improve their internal compliance management system, covering aspects of contract review, legal, tax risk etc. for their future investment and financing process.<\/span><\/p>\n<\/div>\n<\/div>\n <\/p>\n (2) \u00a0Keep up with opening-up opportunities<\/strong><\/p>\n Pay close attention to the newly opened industries and fields which are not listed in the Negative List, private enterprises can leverage their technological advantages to seek new opportunities and engage in project cooperation in newly opened fields.<\/span><\/p>\n<\/div>\n <\/p>\n 4. Conclusion<\/strong><\/p>\n As the first fundamental law regarding private economic development, the PEPL establishes the legal status of private economy aiming at boosting its development and addresses the imbalance treatment between state-owned enterprises\u00a0and the private sector, currently there aren\u2019t many corresponding implementation rules yet issued for the PEPL. In the future, with the improvement of supporting regulations and the deepening of local practices, the long-term significance of the PEPL is not only limited to ensuring fair competition for private enterprises, but also to promoting economic development.<\/span><\/p>\n<\/div>\n [\/vc_column_text][\/vc_column][\/vc_row][vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern” padding_top=”50″][vc_column][vc_column_text]<\/p>\n [\/vc_column_text][vc_separator type=”transparent” thickness=”10″][vc_column_text]<\/p>\n <\/p>\n On January 1, 2025, the Ministry of Human Resources and Social Security and two other departments issued the Interim Measures for Implementing the Flexible Retirement System<\/a><\/em><\/strong>, which specify clear provisions on the procedures for handling flexible retirement and receiving basic pension (the \u201cInterim Measures\u201d). The Measures came into effect from January 1, 2025.<\/p>\n\n
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II.\u00a0 2025 \u5e74\u5f39\u6027\u9000\u4f11\u65b0\u89c4\u5b9e\u65bd<\/span><\/strong><\/h1>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
I. <\/span>Background<\/strong><\/h3>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n