On February 24, the 14th meeting of the Standing Committee of the 14th National People's Congress reviewed the draft law on the promotion of private economy. Previously, the 13th meeting of the Standing Committee conducted the initial review of the draft law. From the deliberation and solicitation of opinions by the Standing Committee, it can be seen that all parties highly recognize the formulation of the Private Economy Promotion Law, fully affirm the draft, and generally believe that the draft implements the important instructions and directives of General Secretary Xi Jinping and the decision-making arrangements of the Party Central Committee. It elevates the major guidelines, policies, and measures of the Party Central Committee on promoting the healthy development of the private economy since the 18th National Congress of the Communist Party of China into legal norms, which has significant and far-reaching significance for the stable expectations of the whole society, boosting confidence, consolidating strength, stimulating the development momentum of the private economy, promoting high-quality development, and playing an important role in the construction of a strong country and national rejuvenation. It is recommended to further revise and improve the draft and review it as soon as possible. It is reported that in order to further reflect the requirements of the Party Central Committee on building a high-level socialist market economy system and optimizing the development environment of the private economy, the draft has been enriched and improved. The rule of law is the best business environment. Some members of the Standing Committee, local governments, enterprises, and the general public have proposed that the content related to legal protection should be enriched and improved. According to the opinions raised by various parties, this draft adds provisions that, in accordance with the provisions of the Legislation Law, laws, regulations, rules, and other normative documents closely related to the production and operation activities of business entities belong to the interpretation of specific application of laws in judicial and prosecutorial work, and do not apply retroactively, except for special provisions made to better protect the rights and interests of citizens, legal persons, and other organizations. The draft requires that multiple inspection items for the same inspection object should be merged or included in the scope of cross departmental joint inspections as much as possible. In addition, the draft requires that no unit shall charge fees to private economic organizations in violation of laws and regulations, impose fines without legal or regulatory basis, or distribute property to private economic organizations. How to promote industry associations and chambers of commerce to play a greater role in promoting the development of the private economy? The draft adds provisions that relevant industry associations and chambers of commerce shall play a coordinating and self regulatory role in accordance with laws, regulations, and articles of association, timely reflect industry demands, and provide information consultation, publicity and training, market expansion, rights protection, dispute resolution, and other services for private economic organizations and their operators. (New Society)