Chinese Premier Li Keqiang has urged local governments to enhance support for mass entrepreneurship and innovation to add new impetus to the country’s growth.
Li made the remarks in an inspection tour to northeast China’s Dalian city, which hosted the Summer Davos forum from Wednesday to Friday.
The premier says local governments should implement policies like streamlining administrative approvals and delegating power to lower levels, and that the country should create a sound environment for the growth of startup companies.
China’s economy slowed to 7 percent in the first half of this year mainly due to weak domestic and global demand.
In a speech at the Summer Davos forum, Li said the Chinese economy is still within the reasonable range despite current difficulties and downward pressure.
The premier remained upbeat on the prospects of China’s economy due to its great potential and resilience, ongoing structural reforms and the stress on mass entrepreneurship and innovation.