Chinese premier stresses better service for startups

Chinese Premier Li Keqiang (C) inspects at the State Administration for Industry and Commerce of China in Beijing, March 20, 2015. [Photo/Xinhua]

BEIJING - Chinese Premier Li Keqiang has stressed the importance of improved business service for startups while visiting the national market watchdog.

The industry and commerce departments are crucial in streamlining administration and delegating power to lower levels, as well as combining power delegation with management, Li said while visiting the State Administration of Industry and Commerce Friday.

"Your job plays a key role in stabilizing growth, boosting innovation and expanding employment," he said.

Amid current commercial system reforms, startups still face constraints and more efforts need to be made to release the vigor of market and the bonus from reforms, he said.

Supervision should be improved to boost fair competition and methods should be innovated to improve supervision efficiency, he said.

China must boost entrepreneurship and innovation and cultivate new growth engines, so as to maintain a medium-high-level growth rate and move toward a medium-high-level of development, Li said.

"This is an important reform, as well a structural reform," he said.

More efforts will be made to crack down on fake goods and intellectual property rights violations to encourage companies to provide better products and services, as well as boost public confidence in "made in China" goods, Li said.

The industry and commerce department is a key link between government and market and should boost reforms, including simplifying company registration procedures, Li said.