Two departments: Reduce institutional trading costs, optimize the investment and financing environment for the private economy

The Ministry of Justice and the National Development and Reform Commission issued a notice on the public solicitation of opinions on the "Draft Law of the People's Republic of China on the Promotion of Private Economy". It proposes to improve the investment and financing environment, improve institutional measures, reduce institutional transaction costs, and optimize the investment and financing environment for the private economy. It specifically stipulates support for private economic organizations to participate in major national strategies and projects, and improve the market-oriented risk-sharing mechanism for financing of private economic organizations. At the same time, it clarifies that investment and financing encouragement and support measures should be implemented in accordance with the principles of equality, marketization, and legality. It supports technological innovation, encourages private economic organizations to play an active role in developing new productive forces, and promotes the emergence of new industries, models, and dynamics through technological innovation. It supports the participation of private economic organizations in national scientific and technological projects, encourages capable private economic organizations to take the lead in undertaking major technological tasks, and opens up national major scientific research infrastructure to private economic organizations. It encourages public research and development platforms and common technology platforms to provide equal services for technological innovation of private economic organizations, promotes in-depth integration of industry, academia, and research, ensures that private economic organizations participate in standard setting in accordance with the law, supports private economic organizations in legally developing and utilizing open public data resources, and strengthens the protection of intellectual property rights of private economic organizations and their operators