Charting the Course
China reviews the year gone by and sets new goals accordingly
Current Issue
· Table of Contents
· Editor's Desk
· Previous Issues
· Subscribe to Mag
Subscribe Now >>
Expert's View
Market Watch
North American Report
Government Documents
Expat's Eye
Photo Gallery
Reader's Service
Learning with
'Beijing Review'
E-mail us
RSS Feeds
PDF Edition
Reader's Letters
Make Beijing Review your homepage
Hot Links

Market Avenue

Latest Headlines
Special> NPC & CPPCC Sessions 2015> Latest Headlines
UPDATED: March 12, 2015
China Issues Opinions to Encourage Mass Entrepreneurship, Innovation

China's State Council has issued opinions to instruct the public on entrepreneurship and innovation, according to an announcement Wednesday.

Mass entrepreneurship and innovation are important for implementing a new growth strategy as China enters a "new normal" phase of slower growth.

China needs to develop the "twin engines" of popular entrepreneurship and mass innovation, alongside increased supplies of public goods and services to drive development, Premier Li Keqiang said in the government work report at the 2015 National People's Congress annual session.

The State Council vowed to provide a better environment for popular entrepreneurship and mass innovation by lowering barriers, strengthening public services and encouraging college students, scientists and engineers to start new businesses.

China will pilot equity-based online crowd funding and encourage banking and financial institutions to provide loans as financing channels to support small businesses, said the announcement.

More than 1,000 investment agencies fund entrepreneurs in China, holding a capital sum of over 350 billion yuan ($56.8 billion), said Wan Gang, minister of science and technology, on Wednesday at a press conference on the sidelines of the national legislature's annual session.

Technology deals in 2014 increased 15 percent year on year to hit 857.7 billion, said Wan.

China has 115 university science parks and over 1,600 technology business incubators, which help startup technology companies develop by providing services such as management training or office space, said Wan.

These incubators and science parks are incubating over 80,000 enterprises and hiring 1.7 million employees.

It is important to let the market play a decisive role in resource allocation, Wan added.

(Xinhua News Agency March 11, 2015)

Top Story
-Empowerment Through Infrastructure
-Special Reports: APEC China 2014
-Protection at Home
-A Weaker Union
-Will the 'China Miracle' Continue?
Most Popular
About BEIJINGREVIEW | About beijingreview.com | Rss Feeds | Contact us | Advertising | Subscribe & Service | Make Beijing Review your homepage
Copyright Beijing Review All right reserved