(W.E. Talk) U.S. Scholar: China's private economy promotion law set to unleash long-term potential of private enterprises

China's Private Economy Promotion Law officially took effect on May 20, demonstrating the country's heightened efforts to provide legal guarantees of fair competition and equal treatment for private enterprises.

"Private enterprises have become an important part of China's economic system," said Denis Simon, a visiting professor at the Asian Pacific Studies Institute of Duke University.

Simon emphasized that the enactment of this law will provide stronger protection for property rights, enhance legal safeguards and improve financing channels for businesses, effectively removing obstacles to their development. The law will generate long-term positive impacts on the Chinese economy, he noted. (Chen Caixia)