Premier Li Keqiang

preferential policies: Local governments were encouraged to establish entrepreneurialism funds, issue preferential policies for makers, as well as give tax support to investors that fund small and micro-firms, business incubators and innovation activities, it said, according to Global Times China. Premier Li Keqiang is an advocate of startups and innovation, and has visited many inventors and makers this year. A statement released after a State Council executive meeting on Thursday, presided over by Premier Li Keqiang , said that priority should be given to unleashing market vitality and creativity to bolster productivity and job creation. "More effort will be given to intellectual property protection and injecting new growth momentum into entrepreneurship and innovation, through the creation of sharing platforms and government procurement," according to the statement. The economy grew 7.4 percent in 2014, the slowest rate for 24 years. And preferential tax policies will create new momentum for entrepreneurship and innovation," said Bai Ming, a senior researcher with a Ministry of Commerce think tank. The government lowered its 2015 target to 7 percent, while underscoring that growth should be driven by quality and innovation. "These measures will be beneficial to startups, as they normally have to grapple with challenges like insufficient capital and weak risk tolerance. (news.financializer.com). As reported in the news.