China to shore up support for mass entrepreneurship, innovation demonstration bases

China will take a slew of measures to improve the leading role of demonstration bases for mass entrepreneurship and innovation to further stabilize employment and enhance growth impetus.

The country has vowed to develop demonstration bases into important platforms for entrepreneurship and employment, pioneers of integration and innovation, and important nodes for global entrepreneurship, according to a guideline released by the State Council.

The guideline urged efforts to implement relief policies for start-up businesses, and improve services in promoting work and production resumption of start-up and innovation firms, while strengthening financial support for entrepreneurship and innovation.

To facilitate employment promotion through entrepreneurship, the guideline called for reinforcing policy support for businesses started by people returning to or moving to the countryside, and improving the skills of college students in innovation and entrepreneurship.

Meanwhile, large companies and various entities in demonstration bases were encouraged to make contributions in creating job opportunities.

The guideline also stressed the integration of firms of various scales, coordination of production, education and research, and cooperation between different types of demonstration bases to catalyze innovation.

China will facilitate the establishment of bilateral and multilateral platforms for entrepreneurship, support demonstration bases to deepen opening-up, and enhance international cooperation to ramp up global entrepreneurship, said the guideline.