National lawmakers on Wednesday voted to adopt the country's first fundamental law dedicated to promoting the private sector, underscoring support for a key part of the world's second-largest economy.
The top legislature started deliberating the draft private sector promotion law on Sunday, with an aim to promote the sustainable and sound development of the private economy.
China aims to better promote private economic development by introducing stronger support measures and ensuring fair law enforcement, a spokesperson said Friday.
The highly anticipated draft law concerning the private economy will be further reviewed by lawmakers, an official from the Standing Committee of the National People's Congress, the top legislature, said on Friday.
Lawmakers will continue to review the draft private sector promotion law in a session of the top legislature scheduled for late April.