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The costs for mass entrepreneurship and innovation should be lowered via more streamlined administration while implementation of tax incentives for research and development are accelerated, according to the meeting.

Tamar Park on the Hong Kong Island was the main venue of the series of rallies held across Hong Kong.

China, on the other hand, has huge market appeal thanks to its large scale and a growing middle-income community. China's social retail sales are catching up with the United States, Wang said.

BEIJING, June 23 (Xinhua) -- China will introduce new administrative fee cuts to implement the reform of tax and fee cuts for enterprises and individuals, reduce social burdens and support the development of real economy, according to the National Development and Reform Commission.

Zhao Lei, an employee of the company and also a CPC member, said the spirit of Party building is in line with the entrepreneurial spirit in that it strengthens the sense of responsibility, innovation, attention to details and persistent learning.