Deputy Minister of Justice Wang Zhenjiang: Basic laws are not better the finer they are. The Private Economy Promotion Law leaves room for future practical development.

On May 8th, Wang Zhenjiang, Deputy Minister of Justice, stated at a press conference at the State Council Information Office that many articles in the Private Economy Promotion Law are highly targeted. For example, provisions such as those governing "back-to-back" arrangements and regulating administrative law enforcement have few words, but carry great significance. Of course, as a fundamental law, it is not necessarily better to have more detailed provisions. Objective practices develop and change rapidly, and overly detailed regulations can sometimes restrict the development of practice. Wang Zhenjiang stated that in the legislative process of the Private Economy Promotion Law, the principle of overall consideration of current and long-term perspectives has always been upheld, leaving room for future practice and development.