China sees record startup boom in 2015

Young makers ZongWenqi (lower) and Ni Jianling make preparation ahead of a pet dog photography project at their studio in Nantong, east China'sJiangsu Province, Sept. 22, 2015. By encouraging mass entrepreneurship and innovation, China saw a record startup boom in 2015 as a total of 4.44 million companies were established, up 21.6 percent from a year ago. More than 80 percent of the new firms were in tertiary industries. The boom came after government efforts to encourage people to open their own businesses, including easier market entry, less red tape and tax breaks. College students,overseas returnees and even migrant workers are emerging as majorforces in entrepreneurship. China has been increasing policy support for new businesses, especially in their starting period. By the end of 2015, there were more than 2,500 incubators for high-tech businesses and over 4,000 innovation bases. The countrywill set up more innovation and entrepreneurship incubators, or"makerspaces," to support economic restructuring and industrialupgrading. (Xinhua/Huang Zhe)