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Premier meets ‘admirable’ young entrepreneur

Updated: Feb 4,2015 6:19 PM     english.gov.cn

Wang Ruixu, who was born in the 1990s, was invited to Premier Li Keqiang’s symposium on Jan 27, which aimed to seek opinions on a draft Government Work Report.

Wang was selected to take part along with some of the most famous personalities in China — including basketball star Yao Ming and writer Wang Meng — due to the fact that his start-up raised millions in a new round of funding, and Premier Li was interested in hearing his opinions.

Wang graduated from Guangzhou University of Chinese Medicine last year, and his start-up, JoiWay Technology — which he founded in his junior year — has just secured a second round of angel investment and raised millions.

The company’s main product, Jianzhimao (“part-time cat”), is an app that provides college students with information on temporary jobs, and has attracted millions of users.

Premier Li was surprised by the size of Wang’s company, saying: “Forty-seven people, that’s quite a lot!” Wang plans to recruit 200 more employees this year, and said he was only able to set up his company because administrative procedures have been greatly relaxed. “The minimum registered capital was originally 100,000 yuan, but I didn’t have that much money,” said Wang. “Luckily, the registration system was reformed.”

“College entrepreneurs are a special group of people,” he said at the symposium. “Many of them don’t know how to start a company and have financing issues, so I hope the government can help solve these problems.”

Wang suggested — based on his own experience — that the government could implement supportive policies to encourage college student entrepreneurship and create favorable conditions for them to achieve their goals.

Premier Li responded to Wang’s suggestion, saying he appreciated young people who build a business from scratch.

College students are an important force in our promotion of mass entrepreneurship and innovation — and it is essential to pave the way, creating conditions for them to realize their dreams and fulfill their potential, said the Premier.

The Premier is known for promoting the entrepreneurial spirit, and he has focused on offering support to small and micro businesses.

Over the past two years, the State Council has issued several policies regarding standards for financial market infrastructure, and promoted system and mechanism innovation and management reforms in various industries.

In his recent address at the World Economic Forum annual meeting in Davos, Premier Li highlighted the importance of mass entrepreneurship and innovation, describing it as a “gold mine that provides a constant source of creativity and wealth”.

He also said that “if we could activate every cell in society,” the Chinese economy would be stronger.

Wang also encountered new challenges as JoiWay developed: “Our team is getting bigger, so now we are concerned about our office,” said Wang. “We cannot afford an office in a good area, and some top startup incubators won’t accept us.”

In a recent communique issued after an executive meeting of the State Council, the government supported the idea of providing an open and integrated service platform for small and micro enterprises, as a way of encouraging more young entrepreneurs like Wang Ruixu.

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