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Fujian steps up efforts to mobilize innovation and entrepreneurship

chinadaily.com.cn | Updated: 2019-05-29

The digitalization of traditional segments is set to be a key task, with the fund specially set up by the provincial government to accelerate the process increased to 12 billion yuan this year.

Meanwhile, Fujian will ramp up talent recruitment. According to the upgraded version of the government talent introduction initiative, roughly 150 high-profile talents and 20 groups will be selected annually for government subsidies and rewards.

The province also intends to increase support for private business growth. According to the document, a fund valued at over 10 billion yuan ($1.49 billion) will be established to ease business's financing difficulties.

In addition, it will take solid steps to further improve government services for enterprises. By the end of the year, the approval time for provincial social investment projects will be reduced to less than 40 percent of the legal time limit. The time for the approval of new business registration and engineering construction projects is targeted at five work days and less than 90 work days respectively.

Meanwhile, it will continue to facilitate customs clearing. By the end of 2021, it aims to slash the overall clearance time for import and export commodities by half compared with that of 2017.

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