Chinese premier stresses innovation, entrepreneurship to drive growth

Chinese Premier Li Keqiang, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, addresses the opening ceremony of the 2020 National Mass Innovation and Entrepreneurship Week in Beijing, capital of China, Oct. 15, 2020. (Xinhua/Yin Bogu)

Chinese Premier Li Keqiang has called for efforts to promote mass entrepreneurship and innovation to enhance the resilience and internal driving forces of economic growth.

Li, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, made the remarks on Thursday while addressing the opening ceremony of the 2020 National Mass Innovation and Entrepreneurship Week in Beijing.

China's continued efforts in deepening reform and opening-up and its innovation-driven strategy have led to tangible success, said Li.

He noted that mass entrepreneurship and innovation has given birth to a large number of market entities in various sectors and created many jobs.

Faced with the COVID-19 impact and the global economic recession, China has managed to stabilize its economy and achieve a relatively fast growth recovery, in which the strong resilience of hundreds of millions of market entities has played a fundamental supporting role, Li said.

Well-implemented policies should further support the vast number of micro, small, and medium-sized enterprises as well as individual business owners, Li said, stressing higher quality and efficiency of mass entrepreneurship and innovation.

During a video inspection tour at several innovative enterprises, the premier encouraged them to innovate products and services to meet market demand, adding that the country will further study policies to support startups.