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BEIJING, Oct. 24 -- With the Communist Party of China (CPC) setting a new blueprint for rule of law during a key meeting this week, people in China are building hopes that their rights and interests will be better protected in a more law-abiding society.

At the Fourth Plenary Session of the 18th CPC Central Committee held between Oct. 20 to 23, the CPC declared sweeping judical reforms while hailing the overarching role of the Constitution in the country's legal system.

The CPC also pledged to rule the world's most populous country and second largest economy in accordance with the Constitution and build a law-abiding government.

Cao Hongxin, managing director of a private electric enterprise in East China's Jiangsu Province, said rule of law is the foundation of a well-functioning market economy and the CPC's new blueprint will certainly provide a more leveled play for private entrepreneurs in China.

"This is a good thing we entrepreneurs have been eagerly anticipating," said Cao.