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State Council designates 92 bases for entrepreneurship and business startups

By HU YONGQI | | Updated: 2017-06-22 17:45

The general office of the State Council released a guideline on Wednesday establishing 92 new demonstration bases nationwide to promote entrepreneurship and business startups. These will include 21 famous enterprises such as internet giant Tencent Holdings Ltd.

The bases encompass 45 districts, including Beijing's Shunyi district, and 26 universities and research institutes, such as Peking University.

The guideline said a number of innovation brands have been established since the first batch of demonstration bases was launched and these have become a vital way to promote economic transformation and innovation-driven development.

The new bases will get enhanced support to boost integrated development of small and medium-sized enterprises, increase employment opportunities and shore up the transformation from old economic drivers to new ones, the document said.

A number of supportive policies will be promulgated to cover key areas of innovation and business startups, in addition to efforts to streamline administration and prioritize the business environment and protect intellectual property rights, the document said.

Meanwhile, efforts will be made to promote integration and transformation in technological research. Migrant workers will be encouraged to set up their own businesses in their hometowns while overseas returnees will also get support to start new enterprises in China, the guideline added.

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