Studying Policies, Boosting Confidence, and Strengthening Development—Huahong Water Services Group Organizes a Special Study and Seminar on the Law of the People’s Republic of China on Promoting the Private Economy
Release date:
2025-05-23
On May 20, China’s first foundational law dedicated to the development of the private sector—the Law of the People’s Republic of China on Promoting the Development of the Private Economy—came into effect. The law covers chapters on general provisions, fair competition, investment and financing promotion, scientific and technological innovation, standardized operations, service support, and rights protection. It explicitly defines the private sector as “an important component of the socialist market economy” and designates it as “a vital force in advancing Chinese‑style modernization.” By reaffirming the state’s long‑term commitment to promoting the private sector, the law marks a new stage in the legal framework for safeguarding the private economy.
On May 21, Huahong Water Services Group convened a special conference to promote and implement the Law of the People’s Republic of China on Promoting the Private Economy. Senior executives and heads of all departments attended both online and offline. The meeting was chaired by Lin Jinhua, Executive Director of the China Environmental Protection Industry Association, Executive Vice President of the Guangxi Environmental Protection Industry Association, President of the Nanning–Fuzhou Chamber of Commerce, and Chairman of Huahong Water Services Group. During the focused study and discussion session, Lin Jinhua shared his insights gained from studying the law and outlined plans and directives for the group’s key initiatives, including accounts receivable management, upgrading and retrofitting standards, industrial upgrading, and cross‑border e‑commerce.
The meeting concluded that the provisions of the Law of the People’s Republic of China on Promoting the Private Economy directly address the key challenges facing private enterprises, fully unleashing their development potential and providing them with greater room for growth. This will furnish a solid legal framework to support business development and help enterprises advance transformation and upgrading through law-based approaches. By addressing private firms’ concerns about the business environment and difficulties in accessing financing through legal means, the law serves as both a reassuring reassurance and timely assistance in the current context.
Participants actively shared their views, exchanged initial impressions from their studies, and unanimously pledged to, under the Group’s guidance, interpret and delve into the material in light of each department’s specific circumstances. They resolved to press ahead with determination—without waiting or relying on others—proactively familiarizing themselves with and closely monitoring relevant government policies and measures, taking a proactive stance, seeking innovation, and boldly experimenting. In doing so, they aim to both clearly identify and continuously address their enterprises’ own weaknesses, while leveraging their strengths to seize opportunities, resolve longstanding challenges, foster development, and achieve further tangible results.
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