China highlights ‘crowd platforms’ to encourage entrepreneurship and innovation

The 26-year-old Yang Qifan tests the circuitry of a drone. He and his team are dedicated to researching a drone-based irrigation system that can automatically adjust the volume of pesticide sprayed on crops. (Photo: Mu Jian from People’s Daily)

Chinese Premier Li Keqiang pledged to create platforms for crowd innovation, crowd-sourcing, crowd support and crowd-funding. As a highlight amid the emergence of an Internet-based economy, such efforts will inject more vitality into China’s social and economic development.

“Mechanisms will be built to encourage new types of business start-ups and innovation through cooperation between enterprises, institutions of higher learning, research institutes, and makers,” said Li in his annual government work report delivered at the opening meeting of the fourth session of the 12th National People’s Congress on Saturday.

The four platforms will help distribute personnel and social resources in a wider range to boost entrepreneurship and innovation.

“We will help people to pool their ideas and talents through a synergy of business start-ups, innovation, and the Internet Plus,” Li further explained the connotation of the strategy.

As early as September 2015, the four “crowd” platforms were identified by the State Council to drive innovation, boost employment, assist entrepreneurship and advance development.

Besides including the creation of the four platforms into work report this year, China previously also encouraged entrepreneurship and innovation by proposing the “ mass entrepreneurship and innovation” strategy.

The decision came as the Internet-based economy prevailed in China. According to a network report released by China Internet Network Information Center this January, by the end of 2015, China has in total 688 million net users, a 39.51 million growth from the previous year.

Internet coverage in China increased by 2.4 percent to 50.3 percent in 2015. Online shoppers also showed a 14.3 percent growth, reaching in total 413 million last year, the report said.

Moreover, during the “12th Five-Year plan” period (2011-15), The Internet contributed more to GDP growth. In 2014, online business accounted for 7 percent of GDP aggregate, more than that of the US.

Analysts believed that amid the booming Internet-based entrepreneurship and innovation, such efforts will help young people realize their dreams, and also add more engines for the country’s economy.