MNI BRIEF: NPC Standing Committee Meeting On Private Law Bill
MNI (BEIJING) - China’s NPC Standing Committee has met to prepare for the third annual session of the 14th National People's Congress to be held in Beijing on March 5, 2025, state media outlet Xinhua news has said.
The meeting reviewed the draft report of the 14th National People's Congress Standing Committee and the draft bill on promoting the private economy, Xinhua said, adding that Zhao Leji, chairman of the Committee presided over meeting. The second draft of the law on promoting the private economy presented at the meeting reflects the Party Central Committee’s requirement for optimising the development of the private economy and improves legal protections, Xinhua added.
China's refreshed focus on inflation will see a likely reduction of its annual 3% CPI target to 2% at next month's National People's Conference, advisors and economists told MNI, noting the economy would still fail to meet the new objective. (See MNI: China To Lower 2025 CPI Goal As Deflation Pressure Looms)