The State Council issued an opinion to further boost mass entrepreneurship and innovation on June 16.
Forces that have traditionally driven economic growth are weakening, the opinion said, and it is imperative that we intensify structural reform, boost efforts to implement the strategy of pursuing innovation-driven development, and all institutional obstacles should be moved to give way to mass entrepreneurship and innovation.
The opinion laid out specific measures to support mass entrepreneurship and innovation.
* The government is determined to innovate its institutional mechanisms to facilitate mass entrepreneurship and innovation. It aims at creating a better environment for fair competition, deepening business system reforms, strengthening intellectual property protection and establishing a mechanism for the training and hiring of talented professionals.
* Related government bodies are optimizing their financial policies to support mass entrepreneurship and innovation. Strengthened financial support policies, inclusive funding measures and more government purchasing will be seen in the near future.
* Utilize financial markets to facilitate funding and investment. Optimizing the capital market, the government encourages corporations to raise funds through the bond market, and will study practical ways to enable start-up Internet and high-tech companies to enter specialized stock exchanges under the growth enterprise market (GEM) category. Banks are encouraged to cooperate with other financial institutions to offer special support to start-up firms. The government will support the development of Internet finance companies and crowd-funded projects.
