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1st Ld-Writethru: Chinese premier promises to pave way for entrepreneurs

Xinhua, March 15, 2015 Adjust font size:

Chinese Premier Li Keqiang said Sunday that the government will continue to "remove roadblocks and pave the way" for entrepreneurship, in a bid to boost market vitality amid economic slowdown.

"Mass entrepreneurship and innovation in itself is a major reform endeavor," Li told a press conference after the conclusion of the annual legislative session.

The premier recalled reform measures decades ago that helped bring about the initiative of Chinese farmers and allowed them to mobilize across the provinces, which led to the "miracle" of China's economic development.

"I believe there are a lot of people with brilliant talents among the people," said Li, in light of his recent visits to business registration venues and venture cafes, where people, old and young, are eager to start their own businesses.

The government must lift all the restrictions so that those people can bring their talents to the best use, he added.

The premier promised more actions this year in eliminating roadblocks and paving the way for people to tap their entrepreneurship, in order to boost market vitality.

Market access will be further relaxed, and business licenses and other certificates will be integrated into one certificate, Li said, promising to relieve the burden on companies in the service sector.

The premier said small and micro start-up companies will have access to "maker clubs" with low rent. A government guidance fund will help attract more "seed capital," and more tax breaks and fee cuts will be introduced to "let companies forge ahead with a light pack," he said.

There will be much vitality in the economy when there are ample business opportunities and ample choices for consumers, he noted.

Measures to encourage mass entrepreneurship and innovation are also aimed at adjusting China's income distribution structure, promoting social fairness, and especially ensuring that young people from poor families will have equal chances for upward mobility.

The premier's remarks came after mass entrepreneurship and innovation was written into a government work report last week and defined as an engine to drive the country's development.

According to the report, China's 2015 economic growth target was set at "approximately 7 percent," down from last year's 7.5 percent. The economy grew 7.4 percent in 2014, the lowest pace since 1990. Endi