Liu Yonghao, Chairman of the New Hope Group, said he was "particularly pleased" to hear the news of the passage of the Private Economy Promotion Law.

On April 30, the 15th meeting of the 14th National People's Congress Standing Committee voted to pass the Private Economy Promotion Law, which will come into effect on May 20, 2025. Liu Yonghao, the chairman of New Hope Group, said in an interview, "I am especially happy and excited to hear this news. Private entrepreneurs have been looking forward to and waiting for the Private Economy Promotion Law to be issued as soon as possible."