China's entrepreneurial environment improves: report

BEIJING - An index tracking China's entrepreneurial environment increased in recent years, indicating a more mature ecosystem for innovation, a report showed.

The aggregate index for entrepreneurial environment climbed from 2.87 in 2010 to 3.1 during the survey period from 2016 to 2017, a report from Tsinghua University showed.

Entrepreneurs surveyed reported significant improvements in financial and policy support as well as better social and cultural standards.

They reported minor improvements in entrepreneurial training and transformation of R&D findings into products.

As China transitions into an innovation-driven development model, it has been stepping up efforts to cut red tape and reduce corporate costs to provide businesses with a better environment.

About 71 percent of the surveyed entrepreneurs said "seizing opportunities" was their motivation to creating startups, up from about 51 percent in 2009.

Young entrepreneurs aged 18 to 34 were the most active innovators, accounting for 44.4 percent of the total.