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State Administration for Market Regulation

State Administration for Market Regulation

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China passes its first law dedicated to the private economy

Rule Changes

Enforcer whose past actions the law aims to constrain

China's private firms build most of its products and hire most of its city workers. On April 30, 2025, they got their first law written specifically to protect them. The Private Economy Promotion Law passed the National People's Congress Standing Committee and took effect May 20.

Updated Yesterday