Standing Committee of the National People's Congress

Rule Changes

Passed the law on April 30, 2025

China's private firms account for about 60% of its economic output and most of its urban jobs. In April 2025, they got their first dedicated legal protection. The Private Economy Promotion Law, passed by the National People's Congress Standing Committee, took effect May 20, 2025.

Updated Jul 29

Rule Changes

Adopted the revised arbitration law after three rounds of review

China's arbitration law has operated essentially unchanged since 1995, when the country's commercial arbitration system was still government-controlled. On March 1, 2026, a revised version took effect, introducing a codified 'seat of arbitration,' permission for foreign bodies like the International Chamber of Commerce (ICC) to operate in free trade zones, and online proceedings.

Updated May 30