Why new law is a leg up for China's private economy
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China’s private economy, which makes up over 90 percent of registered companies, remains a key driver of national growth. This week, the Standing Committee of the 14th National People’s Congress has just wrapped up its four-day 15th session, with the review of the draft private sector promotion law a top topic. This is already the third review since last year, indicating that the draft law is going through the last hurdles. So, what specific changes were made in the third review? How will passing this law affect China’s economy and the world?
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