The Standing Committee of the 14th National People's Congress (NPC) of China, the country's national legislature, began its 15th session in Beijing on Sunday to review a raft of bills, including the draft law on promotion of the private sector of the economy.
Expected to be enacted soon, the law aims to enhance the protection of rights and interests of private businesses, fuel their vitality, and boost confidence needed for innovation and expansion.
By enacting this law, China is sending a strong message of support for its private sector, offering the legal framework and resources needed to ensure sustainable and high-quality growth of the sector, according to officials and entrepreneurs.
"We are focusing on our own development while deepening reform and expanding opening-up. We welcome foreign investment in China and encourage our private sector to invest abroad," said Shi Yaobin, a member of the Standing Committee of the 14th NPC and also vice chairman of the 14th NPC Financial and Economic Affairs Committee, in an interview with China Global Television Network on Monday.
"The enactment of the law on promotion of the private sector of the economy is crucial in this regard. It will provide legal norms, and more importantly, promote the protection of rights and interests, foster sci-tech innovation, and facilitate investment and financing in the private sector. Meanwhile, it will support private enterprises in accessing various policies," Shi also said.
Chinese lawmakers have broadly supported the law as it will foster a favorable environment for private sector growth.
"This is very timely and imperative for China's private sector. This indicates that our country highly values sci-tech professionals, non-public economic figures, scientists, and entrepreneurs," said Lu Weiding, chairman of Wanxiang Group and a deputy to the 14th NPC.
In a world increasingly defined by uncertainty, China is choosing a path of certainty through reform, the rule of law, and continued support for private enterprises. The enactment of the law on promotion of the private sector of the economy will play a crucial role in sustaining the momentum of China's long-term economic growth.
Chinese lawmakers advance legislation to support private sector growth
The Iranian government is focusing on public concerns and maintaining stable supplies of essential goods amid recent protests, Iranian President Masoud Pezeshkian said in a televised interview on Sunday.
In the city of Karaj, northwest of the capital Tehran, daily life has largely continued as normal. A video filmed by a local resident on Sunday shows food stores open and grocery shelves fully stocked.
"This is the block near my home, and there are some food stores here. Daily life continues here. Last night we did not see many protests in Karaj. Right now the city is very safe. This is a grocery store close to my home. All the food is available; nothing is in shortage. Here are noodles and different types of beans. Here are dairy products, cheese, and yogurt. I also checked other grocery stores and didn't see any shortages. Everything is available," said local resident Ali Reza.
Iranian officials have described recent disturbances as acts orchestrated by the "enemy," including some carried out by well-trained and armed "terrorists." The incidents have caused casualties among security personnel and civilians, as well as property damage.
The Secretary of Iran's Supreme National Security Council Ali Larijani has directed authorities to severely punish the "terrorists."
Meanwhile, Iran's police chief Ahmad-Reza Radan said on Sunday that the police had raised alert levels and arrested several leaders of the troublemakers during the operations on Saturday.
President Pezeshkian noted in the interview that the normal demands of the Iranian people are reasonable and justified, but they must realize that triggering riots and carrying out terrorist acts are the enemy's attempts to undermine the country. He urged the public to remain vigilant.
Also on Sunday, Iranian Parliament Speaker Mohammad Baqer Qalibaf warned that Tehran would regard U.S. and Israeli bases and facilities in the Middle East as "legitimate targets" if Washington takes military action against Iran. His remarks followed media reports saying U.S. President Donald Trump is "seriously considering authorizing a strike" against Iran.
Iranian state media reported that at least 109 members of Iran's security forces have been killed in clashes since the protests began 14 days ago. Meanwhile, human rights groups based outside the country said the number of protesters killed has exceeded 200, though the figure could not be independently verified.
The protests initially erupted over a sharp depreciation of the rial and sweeping subsidy reforms. Iranian authorities have blamed the unrest on foreign-linked agents and sanctions imposed by the United States.
Iranian president says government focusing on ensuring supplies amid protests
