BEIJING, Sept. 6 -- China will upgrade its mass entrepreneurship and innovation campaign to boost employment, promote technological innovation and stimulate industrial growth, the State Council executive meeting presided over by Premier Li Keqiang decided on Thursday.
Innovation is the primary driving force of development and a strategic pillar of the modern economic system. The Chinese government places high importance on innovation and entrepreneurship.
Li has pointed out that the mass entrepreneurship and innovation campaign needs to be upgraded to improve services for business start-ups and innovation across the board, and create more opportunities for entrepreneurship-driven employment.
Since 2017, the government has introduced a host of incentives to push the mass entrepreneurship and innovation initiative to a higher level and wider scope.
These efforts have delivered tangible results. With improved environment and diversified entities of innovation and entrepreneurship, a large number of outstanding entrepreneurial teams have come to the fore, and a group of innovation-driven companies have achieved fast growth. The first half of 2018 has seen a daily average of 18,100 new businesses registered.
The Thursday meeting decided that further steps will be taken to create a more enabling environment for entrepreneurship and innovation initiatives.
Such steps include: further streamlining administration and delegating powers, making it easier to start new businesses, advancing the reform for simplified enterprise deregistration, formulating detailed policy incentives to encourage scientific researchers to start their own businesses, and improving policy support and services for migrant workers returning to their hometowns or ex-servicemen who wish to engage in entrepreneurial activities.
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