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China: more makerspaces for real economy

China will set up more innovation and entrepreneurship incubators, or “makerspaces,” to support economic restructuring and industrial upgrading.

According to a statement from the State Council, enterprises, research institutions and colleges should work together to develop makerspaces in key emerging sectors such as manufacturing, electronics and service.

The program should be carried out in collaboration with the “Internet Plus,” “Made in China 2015” and other programs aimed at boosting the real economy to combine manufacturing and the service sectors.

The statement said the government will offer preferential tax, financial and investment policies to encourage more people, especially science and technology researchers, to innovate and set up businesses.

China decided last January to encourage makerspaces in order to set up platforms for public innovation and mass entrepreneurship, which are emerging engines to power the country’s economy.

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