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Has Premier Li Changed the Innovation and Business Start-up Participants?

enlarge font  reduce font Release Date:2014-09-16   Author:Naruis Eileen   Browse Times:1330
Naruis Eileen 【An expert lecturer from “The Great Turning Point” Wisdom Lecture Platform】

Has Premier Li Changed the Innovation and Business Start-up Participants?

For tow continuous years, Premier Li delivered speeches on innovation on the World Economic Forum hold in summer.

On the World Economic Forum hold in Dalin last year, he expressed that innovation is our everlasting high banner.

This year, on the World Economic Forum hold in Tianjin, he expressed that the barrier for enterprises and individuals to start up business and innovation should be broken, forming a new situation of “mass innovation” and “mass business startup”.

His two speeches are delivered as China’s economy is confronted with downturn pressure at the times of maintaining stable growth, implementing structural adjustment and pushing forward reform, which is a test for the Central Government.

On September 11, 2013, he announced on the World Economic Form that economic growth in China is reduced from 7.9% in the forth quarter of the year before to 7.7% in the first quarter this year, then to further to 7.5% in the second quarter this year; consumption, investment and foreign trade growth appear slow-down trend; there is negative growth in central government revenue which is rare over the years. But he expressed that in spite of the economic downturn pressure, China will hold high the innovation banner forever. He hopes that all the present global economic leaders could be the rising power in reform and innovation of respective areas.

On the Summer World Economic Form hold on September 10, 2014, Premier Li expressed again that, with strong implementation of reform and innovation for one year, China has been maintaining stable economic growth. Further to the appeal to the new economic leaders to be the rising power in respective reform and innovation, he put forward the new concept of “mass innovation” and “mass business start-up”.

We all know that enterprises are the main body of market and innovation. Currently, there are about more than 13 million enterprises in China, of which private enterprises account for 80%; there are more than 44 private shops, well deserving the mass business.

They are the fresh and persistent power to drive the economic development and innovation in China. Premier Li pays high attention to the healthy development of market players and innovation main bodies. More than 30 policies for slight simulation of various aspects have been released this year to ensure the stable economic growth.

Surely, there is also something new in “mass innovation” and “mass business startup” put forward by Premier Li. He said that the barriers should be broken for enterprise and individual to start up business and innovation. Then what are the barriers?

They include regime system restriction, thinking factor, social atmosphere, economic environment etc.

Under the environment of resources allocation by government, resources for business startup and innovation are centralized to small number of enterprises. About eighty percent of mid and small sized enterprises cannot get the normal loan from bank, let alone IPO and issuing bonds for direct financing. Though firm system foundation has been laid for general mid and small sized enterprises to get involved in fair competition on the Third Plenary Session of the 18th CPC Central Committee, from the half year supervision by the State Council, division interest and regional interest still block the fair competition. Therefore, on the executive meeting of the State Council hold at the end of May, Premier Li was angry at the official standard and unmatched virtue to the official position.

Therefore, Premier Li said “besides technical innovation, innovation further includes regime, administration and pattern innovation. Over 30 years of reform and open-up in China is as well a large innovation. Great potential of innovation and development in the future still lies in regime reform.”

Currently, with ongoing economic downturn, great crisis has been exposed in private financing on which mid and small sized enterprises relay heavily. The vitality of private financing and investment is decreasing, while there would be no large breakthrough in the strength of financing institutions to support entities economy. At the same time, more than 95% of the mid and small sized enterprises cannot get the support from the government preferential policies.

Furthermore, the government value in pursuit of big and foreign performance and social atmosphere of attachment to the great also restrict large number of mid and small sized enterprises and individuals to carry out business startup and innovation.

Therefore, the concept of “mass business startup” and “mass innovation” by Premier Li not only aims at improving the enterprises and individuals business startup and innovation quality, but also intends to arouse their enthusiasm from a broader level (all people involved). This is an action of improvement, with which, there is continuous fresh power supply for the economic and social development and upgrading in China.


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