Legal scholar, Yale Law School Paul Tsai China Center
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Last updated Jul 29, 2026
As of July 2026: Prominent analyst of the law's enforcement gaps
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
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