Business / Policy Watch

10 new words in the 2016 Work Report

( Updated: 2016-03-05 17:01

10 new words in the 2016 Work Report

A staff displays 3D print soft tissues produced by a German high-tech company during the 2015 China Yiwu International Manufacturing Equipment Expo on Nov 30. [Photo/Xinhua}

Editor's note: At this year's annual meeting showcasing government works as well as economic blueprint ahead, Premier Li Keqiang put forward the following new words in the Work Report. Let's take a look at what governance ideas they convene.

1. New economy

This is the crucial period in which China currently finds itself, and during which we must build up powerful new drivers in order to accelerate the development of the new economy. We need to move faster to develop new technologies, industries, and forms of business, boost the development of a sharing economy through institutional innovations, create sharing platforms, and develop emerging industry clusters such as high-tech and modern service industry clusters, thus creating strong new engines.

2. North-south and east-west intersecting economic belts

Given by the general strategy for regional development, we should pursue the Three Initiatives to form north-south and east-west intersecting economic belts along the coastlines, the Yangtze River, and major transportation routes, and foster new growth poles and city clusters that facilitate the development of surrounding areas.

3. Crowd innovation, crowd support, crowdsourcing, and crowdfunding platform

We will help people to pool their ideas and talents through a synergy of business startups, innovation, and the Internet Plus. Platforms will be created for crowd innovation, crowd support, crowdsourcing, and crowdfunding, and mechanisms will be built to encourage new types of business startups and innovation-making through cooperation between enterprises, institutions of higher learning, research institutes, and makers.

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