State Coun­cil mea­sure will boost in­no­va­tion

China Daily (Hong Kong) - - FRONT PAGE - By XU WEI xuwei@chi­

More pol­icy in­cen­tives for over­seas en­trepreneurs are ex­pected to ad­vance China’s in­no­va­tion-driven de­vel­op­ment and en­trepreneur­ship, of­fi­cials said Wed­nes­day.

A guide­line was ap­proved at a State Coun­cil ex­ec­u­tive meet­ing chaired by Pre­mier Li Ke­qiang on Wed­nes­day to fur­ther en­hance sup­port.

China will es­tab­lish an in­te­grated dig­i­tal busi­ness li­cense reg­istry, en­abling one-stop reg­is­tra­tion for for­eign and do­mes­tic en­ter­prises within a given time frame.

The state will sim­plify work and res­i­den­tial per­mit ap­pli­ca­tion pro­ce­dures for high­level for­eign work­ers, and test in­te­grated ser­vices in hous­ing, school­ing and med­i­cal care. Over­seas stu­dents in China who start new busi­nesses can also ap­ply for a res­i­den­tial per­mit with their diplo­mas.

“Mass en­trepreneur­ship and in­no­va­tion have been ef­fec­tive driv­ers for both the eco­nomic growth and the con­sis­tent tran­si­tion be­tween tra­di­tional and new growth en­gines,” Li said. “They has also sig­nif­i­cantly con­trib­uted to the creation of new jobs and the in­crease in in­come.”

Ac­cord­ing to the guide­line, the coun­try will also put in place pro­grams to sup­port the re­turn of Chi­nese stu­dents liv­ing over­seas to en­gage in busi­ness star­tups and in­no­va­tion, and en­able over­seas Chi­nese en­trepreneurs, in­clud­ing those from the Hong Kong and Ma­cao spe­cial ad­min­is­tra­tive re­gions, to use the same pub­lic ser­vices as lo­cal res­i­dents.

More ef­forts will go into the pro­tec­tion of in­tel­lec­tual prop­erty rights, while in­vig­o­rat­ing tech­nol­ogy mar­kets and ex­plor­ing a way to en­sure timely com­mer­cial­iza­tion of re­search find­ings, with gov­ern­ment sup­port in some ar­eas.

The coun­try also will ex­pand the fund­ing chan­nels for en­ter­prises, in­clud­ing mea­sures to en­hance the credit sup­port and ser­vices and to re­form rules for state cap­i­tal to take part in ven­ture cap­i­tal in­vest­ment.

Pri­or­i­ties will in­clude the de­vel­op­ment of the in­dus­trial in­ter­net and ad­vanced man­u­fac­tur­ing and land use for in­no­va­tion and en­trepreneur­ship pur­poses.

“We should keep pro­mot­ing en­trepreneur­ship and in­no­va­tion, and give full play to the ini­tia­tive and cre­ativ­ity of the pub­lic. R&D out­comes should be put to full use so that we can bet­ter draw on the wis­dom of the pub­lic,” Li said. “The in­ter­nal strength of the new growth driv­ers should be fully con­verted into new growth en­gines for the Chi­nese econ­omy,” he said.

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