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Widespread entrepreneurship and innovation

Updated: 2017-06-26 | By:

Widespread entrepreneurship and innovation

At the Central Economic Meeting in December 2014, Chinese President Xi Jinping called for efforts to create at policy and institutional levels an environment conducive towidespread entrepreneurship and innovation. Before that, Premier Li Keqiang had declared at the Summer Davos Forum in Tianjinin September that China would encourage widest possible participation in entrepreneurial activities and help unleash a massive wave of grassroots innovation.

Widespread entrepreneurship and innovation would be a new engine for China to upgrade the economy, making it more efficient. The axiom testifies to the leading role of the people and the need to tap into their unbounded creativity in full participation in China's drive towards modernization and enjoyment of the reformdividend and the fruits of development. Promoting entrepreneurship and innovation would create more jobs, increase people's income, boostupward social mobility, and contribute to social equity and justice. This would in turn encourage individuals to further pursue their ideals and realize their full potential while generating higher levels of wealth.