On July 29, the Standing Committee of the 16th Shanghai Municipal People's Congress convened its 23rd session. During the meeting, the government presented explanations and review reports on the "Draft Regulations on Promoting the Private Economy of Shanghai" and the "Revised Draft of the Regulations on China (Shanghai) Pilot Free Trade Zone." Both draft regulations were subsequently examined in group discussions. The former regulation aims to foster the high-quality development of the private sector, emphasizing equal treatment, fair competition, equal protection, and mutual prosperity. The latter, marking the first revision in over a decade, incorporates new elements such as scientific and technological innovation, talent development, comprehensive industry chain support, the digital economy, and post-border management systems. This revision is intended to further amplify the Pilot Free Trade Zone's role in testing new systems, exploring innovative pathways, and assessing national pressures.