The significance of the Civil Code promulgated in 2020 lies in: 1. Compiling the civil code is the practical need to uphold and improve the Socialism with Chinese characteristics system; 2. Compiling the Civil Code is an important measure to promote the comprehensive rule of law and the modernization of the national governance system and governance capacity; 3. Compiling the Civil Code is an objective requirement for upholding and improving the basic socialist economic system and promoting high-quality economic development.