China has embarked on the formulation of a law aimed at promoting the development of the private sector, according to a legislative work symposium held on Wednesday.

2月21日召开的立法座谈会表示，我国将着手制定民营企业促进法。

The symposium, as reported by CCTV News, said China has started the work of drafting the law to support the development of the private sector, and the legislative process will be accelerated.

据央视新闻报道，立法座谈会明确，民营经济促进法起草工作已经启动，立法进程将加快。

Hosted jointly by the Ministry of Justice, the National Development and Reform Commission, and the Legislative Affairs Commission of the Standing Committee of the National People's Congress, the symposium said the legislative work will respond to the concerns of enterprises and address the weak links.

司法部、国家发展改革委、全国人大常委会法工委共同组织召开的座谈会表示，制定民营经济促进法，将回应企业关切，补齐短板弱项。

The key focus will be placed on protecting the private companies' property rights and the rights and interests of entrepreneurs in accordance with the law, ensuring their participation in market competition on a level playing field and equal access to factors of production following the law.

座谈会上表示，将聚焦依法保护民营企业产权和企业家权益、公平参与市场竞争、平等使用生产要素。

According to the meeting, the country aims to maintain consistency and stability in policy formulation and implementation with legal thinking and methods. It will stimulate the endogenous motivating power and vitality of various types of operating entities and promote the accelerated development of new productive forces.

座谈会指出，国家将以法治思维和法治方式保持政策制定和执行的一致性稳定性，激发各类经营主体的内生动力和创新活力，推动加快发展新质生产力。

During a recent news conference, Yuan Da, deputy secretary-general of the NDRC said: "the country is gearing up to take a series of practical measures to boost the growth of the private sector". He said the commission will take more steps to effectively address the challenges faced by private businesses, and boost business confidence.

国家发展改革委副秘书长袁达在近日召开的新闻发布会上介绍，国家发展改革委将采取一系列务实举措来促进民营企业发展，切实解决民营企业发展困难，提振民营企业发展信心。

According to the NDRC, the legal and institutional arrangements will be made to ensure the equal treatment of private and State-owned enterprises. More efforts will be made to better implement the existing supportive policies and encourage more private capital to participate in the construction of major projects at the national level and projects that address weak links in the economy.

发展改革委表示，要切实从法律制度上把对国企民企平等对待的要求落下来，要狠抓促进民营经济发展各项政策落实落地，鼓励和吸引更多民间资本参与国家重大工程和补短板项目建设。