Private sector promotion law ensures equal legal status of all economic entities: expert

China's first law on the promotion of the private sector ensures that all economic entities will enjoy equal legal status, market opportunities and the right to development, according to an expert.

The law on the promotion of the private sector was passed last Wednesday at a session of the Standing Committee of the National People's Congress, China's top legislature, and will take effect on May 20 this year.

Comprising 78 articles in nine chapters, the law covers such areas as fair competition, investment and financing promotion, scientific and technological innovation, regulatory guidance, service support, protection of rights and interests, and legal liabilities.

It aims to further optimize the development environment for the private economy, ensure fair market competition for all types of economic entities, and foster the sound development of both the private sector and its practitioners.

"Many of the policies and the practices proved to be effective in practice were written as legal provisions in the law, which stipulate that a fair competition review system should be implemented, barriers to market access should be eliminated in a timely manner, restricting private enterprises from or discriminating against them in public tendering, bidding or government procurement should be prohibited. In conclusion, the law ensures that all economic entities will enjoy equal legal status, market opportunities and the right to development," said Wu Sa, deputy director of the Institute of Economics of the Academy of Macroeconomic Research under the National Development and Reform Commission.

"The law is specific in encouraging, supporting, and guiding private enterprises in aspects like fair competition, investment and financing promotion, technological innovation, regulated operation, service guarantees, and right and interests protection. These ensure that economic entities under all forms of ownership can equally access production factors in accordance with the law, participate in fair competition, be equally protected by the law, unleash their unique advantages while achieving complementary, and pursue common development," said Wu.

Private sector promotion law ensures equal legal status of all economic entities: expert

Venezuela's acting president Delcy Rodriguez said on Sunday that the country is at a critical stage and must achieve national unity, emphasizing that maintaining internal cohesion is of utmost importance.

In a televised address, Rodriguez called on the public to continue trusting the government under the current highly complex political circumstances.

Her statement comes in the wake of a January 3 military operation conducted by the United States, during which Venezuelan President Nicolas Maduro and his wife were taken into custody and flown out of the country.

The operation resulted in at least 100 fatalities.

Rodriguez, who was sworn in as acting president two days later on January 5, framed her appeal for unity against this backdrop of external intervention.

Meanwhile, Venezuelan Minister of Communication and Information Freddy Nanez denounced the U.S. actions as a "war crime of the 21st century" when speaking at an international cultural event on Sunday.

Nanez condemned not only the January 3 airstrikes but also the associated cyber and electromagnetic attacks.

He accused the United States of violating international law through the forced removal of President Maduro and his wife, while attacks on civilian infrastructure, including medical facilities, represent a flagrant breach of humanitarian norms.

He reiterated that the stigmatization and military attacks against Venezuela are driven by economic interests, particularly the desire to control its abundant natural resources.

Venezuelan acting president calls for national unity amid complex situation

Venezuelan acting president calls for national unity amid complex situation