Off the wire
• Market exchange rates in China -- Dec. 22  • Nigerian conflict forces more than 1 mln children out of school: UNICEF  • SpaceX conducts return-to-flight launch, attempts rocket landing on ground  • Australian gov't approves controversial coal port expansion near Great Barrier Reef  • China Hushen 300 index futures open mixed Tuesday  • Chinese yuan strengthens to 6.4746 against USD Tuesday  • Chinese shares open higher Tuesday  • China treasury bond futures open higher Tuesday  • Yearender: 2015, year of breakthrough for China's athletics  • Corporate financing in S. Korea jumps on rising bond sales  
You are here: 　 Home/ Government Policy

China to continue innovation-driven strategy

Xinhua, December 22, 2015 Adjust font size:

China will continue to implement the strategy of innovation-driven development and promote mass entrepreneurship and innovation, said a statement issued Monday after the Central Economic Work Conference.

The Central Economic Work Conference, an annual meeting during which Chinese leaders review economic performance in the past year and map out plans for the next year, was held in Beijing from Friday to Monday.

Reform and innovation will inspire creativity and new growth engines while facilitating upgrading in traditional industries and growth in emerging ones, said the statement.

New measures will be explored to tap the potential of domestic demand and further expand consumption demand, according to the conference.

As the country is undergoing an upgrade of its development pattern from an investment- and export-driven model to one driven by innovation and consumption, China has announced a range of measures for emerging businesses, including financial support, supporting infrastructure and administrative assistance.

There are increasing signs that innovation is being embraced as a source of competitive advantage and meaningful advances are emerging in fields ranging from mobile apps, consumer electronics and renewable energy.

In the first half of 2015, newly registered enterprises had a total registered capital of 12 trillion yuan (1.9 trillion U.S. dollars), up 43 percent from a year earlier.