China Vows to Remove Barriers to Innovation and Entrepreneurship

September 29, 2015

September 29, 2015.

China is to accelerate its exploration of new models to promote innovation and entrepreneurship, according to a report in China Daily.
  New guidelines published by China's State Council have announced that the government will "step up the establishment of relevant platforms, support crowdsourcing, encourage private capital to invest in innovators and widen funding channels" as well as "remove barriers and lift restrictions that stifle new ideas and business". The guidelines promise that the government will grant easier market access to start-up companies by cutting red tape and improving supervision.   Medical treatment is one of the areas that China will reportedly support by encouraging science parks, innovation bases and incubator projects to build new online innovation platforms and share resources with innovators.