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China encourages and supports innovation & start-ups

CCTV.com

08-25-2016 11:22 BJT

New data shows more business entities have emerged in China in the first half of this year. This is part of China's National Development and Reform Commission review of the country's achievements in innovation and start-up business.

More than 2.6 million companies registered in the first six months, jumping 29 percent from a year ago. That means 14 thousand new companies were created everyday.

Meanwhile, emerging services took bigger shares in the market. In June, companies of telecommunication, software and information services increased by 28 thousand, rising 36 percent from a year earlier.

To encourage and support more people in starting their own business, Chinese governments streamlined approval procedures and created a fair market environment.