China will consistently promote the private economy: spokesman

China will continue strengthening support for its private sector, with the implementation of the Private Sector Promotion Law expected to further boost confidence, innovation and development momentum among private enterprises, according to the National People's Congress, China's top legislature, ahead of the opening of its annual session. 

"The Party and the country's fundamental policies to promote the development of the private economy are consistent and will not change," Lou Qinjian, spokesman for the fourth session of the 14th NPC, said at a news conference on Wednesday.

The Private Sector Promotion Law, China's first comprehensive legislation aimed at safeguarding the development of private enterprises, came into force in May. To date, more than 150 supporting policies and institutional measures have been introduced, while 1,400 regulatory documents have been revised or repealed following a comprehensive review, Lou noted.

"We believe that with the law being further implemented, the confidence, foundation and momentum for the development of the private economy will become even stronger, and its prospects will be even broader," Lou said.

"It is a time of great opportunity for private enterprises and entrepreneurs to fully demonstrate their capabilities," he added.