On the afternoon of May 23, 2025, Jiang Shicheng, Deputy Director of the Oliver Hart Contract and Governance Research Center at East China University of Science and Technology, was invited by the Modern Service Industry Federation to interpret the "Private Economy Promotion Law" for relevant entrepreneurs and industry association leaders. The Shanghai Modern Service Industry Federation has invited Associate Professor Jiang Shicheng as a guest speaker to participate in the "Red House Coffee Time" - "Private Economy Promotion Law" information seminar. Ye Sheng, Deputy Secretary General of the Shanghai Modern Service Industry Federation, He Xiufang, Director of the Federation Information Center, Chen Guomin, Secretary General of the Federation Business Service Professional Committee, Xu Liang, Deputy Director of the Federation Medical Service Professional Committee, Shi Kangmei, Deputy Director of the Federation Blockchain Service Professional Committee, Han Mina, Director of the Federation Information Center website, as well as representatives from multiple industry associations and outstanding private enterprises, participated in the discussion on how to promote the high-quality development of Shanghai's private economy in the context of the new era.

    Associate Professor Jiang Shicheng first introduced the development of the School of Business at East China University of Science and Technology and the Oliver Hart Center for Contract and Governance Research. Then, focusing on the "Private Economy Promotion Law", he provided authoritative interpretations of relevant policies from a professional academic perspective. Its clear and concise explanation provided the guests present with an analysis of policy points and an interpretation of policy directions, helping companies better understand policy dividends and seize development opportunities.

    In the interpretation of the Private Economy Promotion Law, Associate Professor Jiang Shicheng reviewed the process of enterprise reform in China and the legal changes in the development of the private economy. From the perspectives of contract theory and organizational economics theory, he analyzed the roles and relationships of private enterprises and state-owned enterprises in the development of the national economy, and demonstrated the promoting effect of the Private Economy Promotion Law on the development of the private economy in China. Next, Jiang Shicheng further elaborated on the connotation and significance of the "Private Economy Promotion Law" from the aspects of stable development expectations, optimization of financing environment, support for innovative resources, strengthening of rights and interests protection, and expansion of international opportunities. He also put forward suggestions on how the Shanghai Modern Service Industry Association and various professional committees attending the conference can use the passage of the "Private Economy Promotion Law" as an opportunity to further promote the development of the private economy.

    In the theme discussion and guest interaction session, the attending guests exchanged views on the theme of "Private Economy Promotion Law" based on their respective industry fields. Starting from different professional fields and enterprise realities, they shared insights and experiences, and jointly explored how to better implement the "Private Economy Promotion Law" and promote innovative development of the private economy in the context of optimizing the business environment.

    Finally, Deputy Secretary General Ye Sheng of the Shanghai Modern Service Industry Federation summarized and emphasized that the private economy contributes 50% of the country's tax revenue, 60% of GDP, 70% of scientific and technological achievements, 85% of urban employment, and 90% of the number of enterprises. Its flexible innovation mechanism and excellent entrepreneurial spirit constitute its core competitiveness; The 79 regulations of the "Law on the Promotion of Private Economy" are characterized by systematicity, pertinence, and enforceability, providing legal guarantees for practical scenarios such as fair competition and bidding. The key is to promote the effective implementation of the law; The Federation will deepen policy promotion, rely on international exchanges, vocational training and other service functions to build bridges between government and enterprises, and help private enterprises seize policy opportunities to achieve high-quality development.

    Through this seminar, the Hart Center will continue to leverage its interdisciplinary research advantages and build a three-dimensional dialogue platform of "academia politics business" to assist in the modernization of China's private economic governance system.