China unveils 2026-28 plan to boost entrepreneurship, support jobs and innovation

China on Thursday unveiled a new action plan to boost entrepreneurship through targeted support for technology transfer, industrial development, vocational training and consumer demand, as part of efforts to stabilize employment and promote high-quality growth.

The 2026-28 initiative, jointly issued by the Ministry of Human Resources and Social Security and three other central government departments, aims to build a more diversified entrepreneurial ecosystem, according to a circular published on the ministry's website.

Under the plan, authorities will encourage scientists and engineers to commercialize research results, support rural returnees in developing agricultural supply chains, and integrate vocational training with startup coaching. It also calls for greater support for small businesses serving everyday community needs, including elderly and child care services.

By 2028, the policy framework is expected to be further improved, with a more vibrant startup environment in which "government encourages, markets guide, society supports and workers dare to start businesses," the circular said.

Specific measures include improving the efficiency of technology transfer, fostering small and medium-sized innovative firms, training entrepreneurship mentors with vocational skills, and using idle urban spaces such as community facilities and old factory buildings to create local "startup support" hubs.