The State Council executive meeting vigorously promotes entrepreneurship and innovation: supporting entrepreneurial incubation institutions and venture capital enterprises to issue bonds for financing
Since the beginning of this year, the daily registration of 18600 new enterprises for "double innovation" has not only added new vitality to the Chinese economy, but also helped to increase employment opportunities.
On June 5th, Premier Li Keqiang presided over a State Council executive meeting and proposed to give full play to the important role of "double innovation" in supporting employment, and provide more positions that meet the employment needs of key groups such as college graduates and retired soldiers.
Su Jian, director of the National Economic Research Center at Peking University, told First Financial that entrepreneurship and innovation are closely related to employment. "Double innovation" can provide some good investment opportunities and may also lead to new consumption hotspots, which will increase demand and drive employment.
Liu Aihua, spokesperson for the National Bureau of Statistics, stated in May that China has achieved very good results in entrepreneurship and innovation since the beginning of this year. According to data from relevant departments, from January to April, the daily average of newly registered enterprises in China reached 18600, which is a relatively high level and indicates a high level of enthusiasm for entrepreneurship and innovation among enterprises.
Su Jian stated that the deepening of "double innovation" can stimulate both employment and investment. From an institutional perspective, the government should find ways to create an environment conducive to people's entrepreneurship and innovation.
The State Council executive meeting proposed a "combination of five measures" to promote the deepening of "double innovation": firstly, to give full play to the important role of "double innovation" in supporting employment, and provide more positions that meet the employment needs of key groups such as college graduates and retired soldiers. Deepen the reform of "streamlining administration, delegating powers, and improving services", formulate the "Regulations on Optimizing the Business Environment", and reduce the cost of entrepreneurship and innovation.
The second is to leverage the unique role of "double innovation" in promoting technological innovation. Support the demonstration base of "double innovation" to take the lead in implementing scientific research projects, confirming and transforming achievements. Accelerate the implementation of the policy of pre tax deduction of 75% for research and development expenses, and study increasing policy efforts.
The third is to support the creation of a "double innovation" platform and promote the integrated development of large, medium, and small enterprises. Improve incentive mechanisms such as equity and compensation to promote collaborative innovation among various types of enterprises.
Fourth, promote the upgrading of "Internet plus". Accelerate the development of industrial Internet and expand the application of "Internet plus" in medical care, pension, education and other social fields.
Fifth, guide financial institutions to reduce the actual interest rates and comprehensive costs of financing for small and micro enterprises, and relax the tolerance for non-performing loans of small and micro enterprises from no more than 2 percentage points above the non-performing loan ratio of various loans to 3 percentage points. Encourage venture capital and venture capital to increase their support for "double innovation". Support entrepreneurial incubation institutions and venture capital enterprises to issue bonds for financing.
Su Jian stated that in creating an environment conducive to entrepreneurship and innovation, it is important to protect private property rights and intellectual property rights, and create a good legal and business environment. Reducing the financing costs of small and micro enterprises requires specific measures to be implemented, so that they can effectively enjoy policy incentives.
Information source: Chinese government website
He Yang/Organizing and Editing
