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Widespread Entrepreneurship and Innovation

(National Governance)

Updated:2018-12-03 |

Widespread Entrepreneurship and Innovation

At the Central Conference on Economic Work in December 2014, Xi Jinping called for efforts to create an environment conducive to widespread entrepreneurship and innovation at policy and institutional levels. Before that, Li Keqiang had declared at the “Summer Davos” forum in Tianjin in September that China would encourage the widest possible participation in entrepreneurial activities and help unleash a massive wave of grassroots innovation.

Widespread entrepreneurship and innovation will be a new engine for China to upgrade the economy and make it more efficient. The axiom testifies to the leading role of the people and the need for the full participation of their immense creativity in China’s drive towards modernization, enjoyment of the reform dividend, and sharing of the fruits of development. Promoting entrepreneurship and innovation will create more jobs, increase incomes, boost social mobility, and contribute to social equity and justice. This in turn will encourage individuals to further their ideals and realize their full potential as they contribute to the creation of wealth in the society.