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China Commits to Development of Business Innovation and Entrepreneurship Platforms

Three Chinese ministries have jointly backed a plan to support a group of development zones focussed on upgrades to the real economy, calling for the creation of distinctive platforms for innovation and entrepreneurship. Among the areas identified for priority development are the aggregation of specialist capital, the integration of large enterprises and SMEs, support for scientific and technological resources and the nurturing of leadership skills.

Overall, it is intended that the zones will develop in a market-oriented and specialised direction, with big data, cloud computing and artificial intelligence all fully utilised in order to improve the quality and efficiency of the related innovation, entrepreneurship and resource connectivity requirements.

The plans were outlined in the Implementation Plan for Supporting the Creation of Distinctive Platforms to Promote the Upgraded Innovation and Entrepreneurship of Small and Medium-Sized Enterprises (SMEs), as jointly issued by the Ministry of Finance, Ministry of Industry and Information Technology and Ministry of Science and Technology.

For further details (in Chinese), please visit the following link:

Ministry of Science and Technology (Cai Jian No. 408 [2018])

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