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China vows to unleash market vitality, spur innovation

Xinhua, June 4, 2015 Adjust font size:

The State Council, China's cabinet, on Thursday pledged to continue streamlining administrative procedures and improving government services to support mass entrepreneurship and innovation.

A statement released after a State Council executive meeting on Thursday, presided over by Premier Li Keqiang, said that priority should be given to unleashing market vitality and creativity to bolster productivity and job creation.

"More efforts will directed to intellectual property protection and injecting new growth momentum into entrepreneurship and innovation, through the creation of sharing platforms and government procurement," according to the statement.

Local governments were encouraged to establish entrepreneurialism funds; preferential policies should be given to makers; and investors that fund small and micro-firms, business incubators and innovation activities should receive tax support, it said.

Premier Li Keqiang has been a proactive and enthusiastic supporter of startups and innovation, and has visited many inventors and makers this year. Endi