En­tre­pre­neur­ial ac­tiv­ity tops big G20 mem­bers

China Daily (Hong Kong) - - BUSINESS - By JING SHUIYU jing­shuiyu@chi­nadaily.com.cn

The state of Chi­nese en­tre­pre­neur­ial ac­tiv­i­ties is strong, ac­cord­ing to the lat­est avail­able data con­tained in a ma­jor in­ter­na­tional aca­demic re­port.

The re­port, re­leased at a press con­fer­ence on Wed­nes­day in Bei­jing by Ts­inghua Univer­sity, said that the main­land ac­tiv­ity level in 2015 was higher than in some G20 mem­bers — the world’s 20 wealth­i­est and emerg­ing economies.

Ac­cord­ing to the 2015/2016 China Re­port from the Global En­trepreneur­ship Mon­i­tor, most Chi­nese en­trepreneurs were op­por­tu­nity-mo­ti­vated and 64.3 per­cent of the re­spon­dents said they chose to pur­sue an op­por­tu­nity as a ba­sis for their en­tre­pre­neur­ial mo­ti­va­tions, in­stead of start­ing the busi­ness out of ab­so­lute ne­ces­sity. That num­ber in­creased by 6.8 per­cent­age points from five years ago.

The Na­tional En­trepreneur­ship Re­search Cen­ter of Ts­inghua School of Eco­nomics and Man­age­ment con­ducted the sur­vey against the back­ground of the G20.

“The G20 En­trepreneur­ship Ac­tion Plan con­sid­ers star­tups as a key driver for cre­at­ing de­cent jobs, fos­ter­ing in­no­va­tive ideas and boost­ing eco­nomic growth,” said NERC Di­rec­tor Gao Jian, who led the project.

“Against such a back­ground, we con­ducted this year’s GEM China re­port based on ex­ist­ing re­search frame­work and data sources.”

The boom in en­trepreneur­ship came thanks to the mass en­trepreneur­ship and in­no­va­tion pro­gram pro­posed by Premier Li Ke­qiang in Septem­ber 2014, said Zhang Jing’an, an aca­demi­cian at the In­ter­na­tional Eurasian Acad­emy of Sciences.

“China is en­ter­ing into the stage of in­no­va­tion-driven de­vel­op­ment,” he added.

The find­ings in the re­port also showed key dis­par­i­ties be­tween Chi­nese en­trepreneurs and their coun­ter­parts in de­vel­oped coun­tries.

In terms of in­dus­try sec­tor par­tic­i­pa­tion, nearly 70 per­cent of Chi­nese en­trepreneurs op­er­ated whole­sale or re­tail busi­nesses, while 8.2 per­cent of them pro­vided higher-value busi­ness ser­vices such as in­for­ma­tion and com­mu­ni­ca­tions, fi­nan­cial, pro­fes­sional and other ser­vices in­dus­tries.

By con­trast, the sur­vey showed that de­vel­oped coun­tries had a higher pro­por­tion of star­tups in busi­ness ser­vices. For in­stance, the per­cent­age in the United King­dom stood at 35.5 per­cent, and in the US 32.8 per­cent.

NERC Deputy Di­rec­tor Cheng Yuan said the pro­por­tion of tech­nol­ogy star­tups in China re­mained “sig­nif­i­cantly lower” than that of in­nova- tion-driven economies, de­spite more and more Chi­nese star­tups in re­cent years had ap­plied new tech­nolo­gies to give their busi­nesses a boost.

Global En­trepreneur­ship Mon­i­tor is a global study started back in 1999 by a con­sor­tium of uni­ver­si­ties to an­a­lyze en­trepreneur­ship lev­els in a wide num­ber of coun­tries.

The main mea­sure used is called the To­tal Early-Stage En­tre­pre­neur­ial Ac­tiv­ity, which as­sesses the per­cent of a work­ing age pop­u­la­tion both about start­ing an en­tre­pre­neur­ial ac­tiv­ity and hav­ing started one from a max­i­mum of three years and half.

China’s To­tal Early-Stage En­tre­pre­neur­ial Ac­tiv­ity, the in­di­ca­tor used to eval­u­ate an econ­omy’s en­trepreneur­ship con­di­tion, was 12.8 per­cent in 2015, ac­cord­ing to Ts­inghua Univer­sity.

It was higher than that of dom­i­nant in­no­va­tion-driven coun­tries such as the United States (11.9 per­cent), the UK (6.9 per­cent), Ger­many (4.7 per­cent) and Ja­pan (3.8 per­cent), ac­cord­ing to the re­port.

YU FANGPING / FOR CHINA DAILY

A voice-con­trolled robot de­signed by col­lege stu­dents does pushups at a show in Shan­dong prov­ince.

Newspapers in English

Newspapers from China

© PressReader. All rights reserved.