Curbs removed to boost entrepreneurship
Print Edition
PREMIER Li Keqiang yesterday said the government will continue to “remove roadblocks and pave the way” for entrepreneurship, in a bid to boost market vitality amid an economic slowdown.
“Mass entrepreneurship and innovation in itself is a major reform endeavor,” Li said.
He recalled reform measures decades ago that helped bring about the initiative of Chinese farmers and allowed them to mobilize across the provinces, which led to the “miracle” of China’s economic development.
“I believe there are a lot of people with brilliant talents among the people,” said Li, in light of his recent visits to business registration venues and venture cafes, where people, old and young, are eager to start their own businesses.
The government must lift all restrictions so that those people can bring their talents to the best use, he added.
Li promised more actions this year in eliminating roadblocks and paving the way for people to tap their entrepreneurship in order to boost market vitality.
Market access will be further relaxed, and business licenses and other certificates will be integrated into one certificate, Li said, promising to relieve the burden on companies in the service sector.
Li said small and micro startup companies will have access to “maker clubs” with low rent. A government guidance fund will help attract more “seed capital,” and more tax breaks and fee cuts will be introduced to “let companies forge ahead with a light pack,” he said.
There will be much vitality in the economy when there are ample business opportunities and wide choices for consumers, he noted.
Measures to encourage mass entrepreneurship and innovation are also aimed at adjusting China’s income distribution structure, promoting social fairness, and especially ensuring that young people from poor families will have equal chances for upward mobility.
Li’s remarks came after mass entrepreneurship and innovation was written into a government work report last week and defined as an engine to drive China’s development.
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