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Premier calls for more policy support for Internet enterprises

Updated: Apr 23,2016 6:40 PM     english.gov.cn

Premier Li Keqiang called for more policy support for Internet enterprises because boosting mass entrepreneurship and innovation depends mainly on the Internet.

“We have entered the Internet era,” said the Premier at a State Council executive meeting on April 20. “If we do not keep up with the current trend, we will get left behind forever.”

His remarks can be traced back to a dialogue with business leaders during the Boao Forum one month ago. When talking with the Premier, an Internet enterprise founder said he hopes the equity and tax system for scientific and innovative enterprises should be more flexible.

“We have introduced a pilot equity incentive policy in the Zhongguancun National Innovation Demonstration Zone,” said the Premier. “But due to the deferred issue of the targeted policy document, only a few businesses enjoyed such favorable policies.”

The Premier said there is a need to attract talent to develop innovative Internet enterprises, and one important means is to practice stock option incentives.

“Many Internet enterprises use Internet Plus to improve efficiency and profits,” said Premier Li. He asked related departments to research stock option and equity incentive policies for Internet enterprises.

The Premier always attaches great importance to the development of Internet enterprises. He said many times that promoting the Internet Plus strategy is important in the transformation of the Chinese economy. It will also influence the restructuring of traditional industries. ‘

At another State Council executive meeting, Premier Li said, “We may now stand at the same starting line with developed countries in information and especially in the Internet. 2016 marks the 22nd year since China gained access to the Internet. The Internet is helping China integrate with the world.”

At the State Council executive meeting on April 20, Premier Li asked related ministries to be more open-minded and give more policy support for the development of high-tech enterprises.

“We must stimulate the technological staff’s passion for mass entrepreneurship and innovation so as to develop a new economy and bring forth new technology, new industries and new businesses.”

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