Promoting Mass Entrepreneurship

China’s cabinet, the State Council, on July 12 adopted guidelines with detailed measures to boost mass entrepreneurship to achieve innovation-driven growth. China will deepen reforms in innovation-driven development to expand the scope and raise the level of mass entrepreneurship and public innovation, according to a statement released after the State Council Executive Meeting chaired by Premier Li Keqiang. Promotion of mass entrepreneurship and innovation will help boost employment, optimize the economic structure and facilitate a shift of growth engines. The government will streamline management procedures and reduce market barriers to offer efficient services for market players. Meanwhile, China will expand financing channels for startups, encourage industrial upgrading and improve policy support for entrepreneurial and innovative professionals, according to the statement. “The sector maintained its steady trend with improving services and expanding networks,” Geng Yan, market monitoring official with the SPB, said during a press conference. The country plans to extend the courier network and improve computerized systems, services and international connections by 2020. The projected annual revenue of the courier sector will be 800 billion yuan ($118.2 billion) at that time.