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China's central authorities have been continuing on a set course to advance reforms and open the economy to foreign companies. The country has also made concerted efforts to spur domestic consumption.
China's central bank governor Yi Gang said during the 10th Lujiazui Forum in mid-June in Shanghai that the average lifespan of a Chinese SME is only about three years.
China will extend the second round of rural land contracts by another 30 years upon their expiration, Li said, stressing the role of reform and innovation in building powerful new growth drivers for rural development.
China will work to cut the time needed for approval to start a business to no more than four working days by the end of this year, and better regulate charges imposed on businesses by industry bodies and associations, a State Council executive meeting chaired by Premier Li Keqiang decided on Wednesday.
China's approach to address major risks, poverty and pollution, "could set a global standard for using the major challenges of our time as drivers for innovation", said Dennis Pamlin, senior adviser at the Research Institutes of Sweden. "With this new initiative, China could actually shift the global innovation focus."
来源：资阳报