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At a time when traditional growth drivers are losing steam, China has pinned hopes on services, including tourism, for new impetus to drive consumption and employment, support economic growth and restructuring.
According to auditing firm KPMG, the government has invested more than one billion U.S. dollars in domestic startups since 2015. Compared with other firms, technology firms have obtained most support in tax preferences, funding, low-interest or interest-free loans and rent subsidies.
system," rating agency Moody's said in a research note.
12. We highlight the importance of innovation as a key driver for mid and long term economic growth and global sustainable development. We commit to promote cooperation on science, technology and innovation (STI) to forge synergy in tapping new growth momentum for our five economies and continue to address the development challenges we face. We commend the selection of BRICS research and development projects under the BRICS STI Framework Program and note the launch of the 2nd call for projects. We welcome the BRICS STI Cooperation MOU and support enhanced cooperation on innovation and entrepreneurship, including by promoting technology transfer and application, cooperation among science and technology parks and enterprises as well as mobility of researchers, entrepreneurs, professionals and students. We encourage increased participation of the academia, businesses, civil society and other stakeholders in this process, and support the promotion of STI investment and cross-border investment through existing funding, institutions and platforms including the NDB. We agree to continue to work on a cooperation platform for innovation and entrepreneurship and support the implementation of the BRICS Innovation Cooperation Action Plan 2017-2020.
"Developing countries, though at different stages of development, are all confronted with multiple challenges, ranging from economic growth, people's livelihood, poverty eradication, to environmental and climate protection," said the special representative.
来源：资阳报