Chinese Premier Li Keqiang held an executive meeting of the State Council on Nov 3. According to a pilot plan released during the meeting, a new batch of innovative demonstration areas will be established in North China's Tianjin city and Changsha, Zhuzhou, and Xiangtan city in Central China's Hunan province.
Premier Li Keqiang decided to promote Zhongguancun's pilot policy in a broader area, accelerate the construction of national innovative demonstration areas, and further encourage entrepreneurship and innovation.
China has implemented a series of pilot policies concerning finance, taxation, skills incentives, and science and research funding since 2010, which have made great achievements. It must accelerate the development of its innovative driving force, which will strengthen the promotion of technology mechanism reform.
The government will also push forward and implement pilot policies in a broader area, reducing the governmental power's effect on start-up businesses and realizing the rapid development of the industry.
The pilot policies serve to boost the researchers' motivation and creativity, which will expedite the achievement of innovative results, will promote the growth of innovative and high technology, will establish a new driving force for China's economic development, and will push forward China's economic path to a medium high level.
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