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China's innovation and entrepreneurship initiative began in 2014 and in July, the State Council, China's Cabinet, released a guideline that the government will encourage State-led investments as well as private investments in startups, especially those in the high-tech sector,to help finance innovation.
China's debt problems will see significant improvements in the next three years. [Photo/VCG]
China's economy expanded 6.8 percent year-on-year in the first half of 2018, well above the government's annual growth target of around 6.5 percent.
China's local government debt soared during an investment and construction binge following the global financial crisis in 2008. Well aware of the risks, authorities have rolled out a string of measures including the debt-for-bond swap to reduce the local debt burden.
China's outbound investment drive first started as a need for raw materials and energy to ensure its old growth model functioning effectively.
来源：资阳报