Abstract: At the Third Plenary Session of its 20th Central Committee, the Communist Party of China explicitly proposed the formulation of a law promoting the development of the private sector. To implement this major decision of the central leadership, it is imperative to accelerate the formulation of the Private Sector Promotion Law. Therefore，it is necessary to explore in a deep-going way the practical paths to formulating the law by closely focusing on the core issues of its formulation. Specifically，efforts need to be made in the following five aspects: Firstly，to clarify the overall thinking of the formulation of the law and accelerate the legislative process by adhering to the comprehensive leadership of the Party，the people-centered approach，the systematic concept，and the problem-oriented approach. Secondly，to accurately grasp the legislative positioning of the law, incorporate it into the branch of economic law，and position it as a basic law in the field of private sector. Thirdly，to accurately grasp and adhere to the legislative concepts of the law,namely promoting development，equal protection，fair competition，and coordinated development. Fourthly，to scientifically construct the institutional system of the law. And finally，to properly handle the external relations of the law. 

Key Words: Private Sector Promotion Law; formulation of the Private Sector Promotion Law; practical approach

Author: Xiao Jing, associate research fellow, CASS Institute of Law;

Source: 3 (2025) Journal of Jianghan University (Social Science Edition).