China to deepen reforms to promote mass entrepreneurship, innovation

Source: Xinhua| 2017-07-12 20:20:43|Editor: An
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BEIJING, July 12 (Xinhua) -- China's cabinet on Wednesday adopted guidelines with detailed measures to boost mass entrepreneurship to achieve innovation-driven growth.

China will deepen reforms in innovation-driven development to expand the scope and lift the level of mass entrepreneurship and public innovation, according to a statement released after the State Council's executive meeting chaired by Premier Li Keqiang.

Promotion of mass entrepreneurship and innovation will help boost employment, optimize economic structure and facilitate shift of growth engines, the statement added.

The government will streamline their management procedures and reduce market barriers to offer efficient services for market players.

Meanwhile, China will expand financing channels for start-ups, encourage industrial upgrading and improve policy support for entrepreneurial and innovative professionals, according to the statement.

KEY WORDS: innovation