China has stepped up its legislative initiatives over the past year to strengthen legal support and enhance the framework needed for high-quality economic growth and increased openness, officials said.

Zhang Tao, from the Legislative Affairs Commission of the National People's Congress Standing Committee, China's top legislature, highlighted the Private Sector Promotion Law, which took effect on May 20. He noted that this legislation marked a significant milestone as the country's first foundational law in this field, and it is pivotal in boosting private economic development and instilling confidence among entrepreneurs.

                                                                                                                                               Source.China Daily