A wave of Chinese startups amid thriving entrepreneurship

Guo Xin, 23, an undergraduate at Nankai University, feels no pressure from China's economic slowdown. Instead, he sees positive changes encouraging startups.

"The economy is facing great downward pressure, but for entrepreneurs, the business environment has never been better," said Guo, chief executive officer of an Internet finance company. He established a startup three years ago.

Like Guo, hundreds of thousands of young Chinese have started their own companies or projects in the past year or two as a startup frenzy grips the nation. Partly thanks to serious reforms, especially business registration reform, it is easier than ever to start a business.