At the beginning of reform and opening up, the CPC broke through the doctrine of single public ownership, allowing the development of individual, private and foreign-funded economies, and taking them as a necessary and beneficial supplement to the public economy. After 1992, the non-public economy experienced greater development and became an important component of the socialist market economy, playing a positive role in activating the market and promoting employment. But its own non-standard issues and contradictions with the public ownership economy have also sparked controversy. In response, the central government put forward the policy of “Two Unwaverings” in 2002, establishing the status of enterprises as investment entities, and issued a series of laws, regulations, and policy measures in market access, factor utilization, and property rights protection to encourage, support, and guide the development of non-public economy. As China’s economic development enters a new normal, the central government focuses on supporting the private economy while adhering to the “Two Unwaverings”, comprehensively deepening reforms to release dividends, implementing support policies such as tax reduction and fee reduction, and making every effort to stabilize expectations and boost confidence in the private economy. In the complex situation of accelerating changes unseen in a century, severe impact of the pandemic in the century, and difficult transformation of the domestic economic development mode, the Central Committee of the Communist Party of China has shown greater determination to support the development of the non-public economy, especially the private economy. Practice has proved that the non-public economy can be more fully developed under the socialist system, but the means of rule of law should be used to support its development. At the same time, it is important to distinguish the more complex contradictions behind the public and non-public economic contradictions, to take targeted measures, and to guide various market entities in a legal manner to form a strong joint force that promotes Chinese path to modernization.