Over 1,000 suggestions solicited for draft law on private sector promotion

BEIJING, Oct. 14 (Xinhua) -- China's Ministry of Justice has received over 1,000 suggestions since it published a draft of the private sector promotion law for public opinion last Thursday.

The draft aims to promote the sustained, healthy, and high-quality development of the private sector, creating a more favorable environment for the common development of economic entities under all forms of ownership, including the private sector, according to Hu Weilie, vice minister of justice, at a press conference.

The draft encourages private economic entities to participate in national scientific and technological breakthroughs, and supports capable ones in leading major technical research tasks, Hu said.

Hu also noted the draft provisions ensure that private sector organizations can participate in standard-setting and the development and utilization of public data resources in accordance with the law, while also strengthening the protection of their intellectual property rights.

The draft underscores optimizing the investment and financing environment for the private sector, and supporting private economic entities in participating in major national strategies and projects, Hu noted.