NDRC: Innovation on the rise in China

China is beefing up efforts to promote mass entrepreneurship and innovation, which is a new growth engine for its economic and social development.

An annual report released on Monday by the National Development and Reform Commission showed that China saw an upsurge in mass entrepreneurship and innovation in 2016, as more than 5.5 million new companies were registered last year, growing 24.5 percent year-on-year.

Initiated by Premier Li Keqiang at the 2014 Summer Davos in Tianjin, the mass entrepreneurship and innovation program has become a craze sweeping the whole nation.