In September 2014 on the Davos Summer Forum, for the first time, Premier Li Keqiang mentioned , “mass entrepreneurship and innovation” in the public. He proposed to “make a new tide of public entrepreneurship and grass-roots entrepreneurship on the land of 9,600,000 square kilometers, and create a new trend of Innovate by Thousands of People and Innovation by Everyone”. *
China has 1.3 billion people, a 900-million workforce, and over 70 million enterprises and self-employed businesses, which makes it a manufacturing giant in the world. However, the Chinese government is targeting to transform the country from “the factory of the world” into a leading manufacturing power with more optimized industrial structure, sound quality and efficiency and sustainable development. To add more value in the manufacture, the key lies in innovation and entrepreneurship.
Digitalization plays a key role in the innovation transformation in China: nowhere else in the world is there such a large pool of users keen on testing and adopting the latest technologies. In many aspects, China is leading the global trend of digitalization with a massive uptake, high investment in future solutions (such as AI and robotics), innovative business models, open-minded consumers and last but not least, extensive support from the government.
To answer the call of “mass entrepreneurship and innovation”, the city government of Shanghai plans to turn Shanghai into a global innovation hub.
Walk with SHANGHAI FLANEUR experts to learn the latest trends on innovation and entrepreneurship and investigate the start-up scene in China.
*CHINA ECONOMIC NET, March 6, 2015.
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