China will use innovation and optimization of government services to boost the transformation of economic driving forces, according to a circular issued by the State Council on Jan 20.
The target is to construct an institutional environment that fits with the development of new industries and driving forces.
Government services need to be improved to implement innovative development strategies and promote mass entrepreneurship and innovation.
In addition, administrative approval services in emerging economic sectors should be used effectively and new industries should be included in statistical surveys and supporting policies.
Policy limitations in emerging economic sectors should be relaxed and capital markets at different levels should be optimized.
Furthermore, the production accounting system regarding the integrated development of emerging economic sectors needs improvement and special shareholding management systems should be implemented in certain emerging sectors.
Also, risk-warning and analysis systems should be improved and risk management capabilities should be enhanced in these sectors.
Regulations and policies regarding labor employment and social security should be improved to fit with the development of emerging industries.
Local governments are permitted to introduce management systems in low-risk sectors such as logistics, education and tourism, which are beneficial to new industries and businesses.
To improve service efficiency for entrepreneurship and innovation, more systems in scientific research management, capital management and bankruptcy liquidation should be established.
Efforts should also be made to boost mass entrepreneurship and innovation by establishing demonstration zones and promoting the development of maker spaces and improve the property rights protection system.
Legislation regarding social credit and the industry access system mainly concerning the negative list should be improved.
Monitoring systems for major emerging industries should be set up and new laws regarding e-commerce, personal data protection, data resource management and new energy power generation should be implemented.
New media and financial monitoring systems should be established under the context of internet development.
Efforts should also be made to cultivate important elements that back up new driving forces, including talent management, favorable environment for innovative entrepreneurs, sharing system of data resources and transformation of scientific and technological achievements.