Students learn to create posters for e-commerce in a training institute in Chengdu, Sichuan province, on November 4, 2020. Photo: Xinhua

China’s State Council has planned to launch the third batch of 92 demonstration bases of mass entrepreneurship and innovation in order to stabilize the job market.

The project is aimed at bringing out the vitality of market entities into full play, according to a notice released by the State Council. It will act as efficient support for scientific personnel, university graduates, returning migrant workers, veterans, the unemployed and other social groups to get engaged in mass entrepreneurship and innovation.

The project also will help ensure the security of industry and supply chains and speed up a deep fusion of technologies and economy and collaboration on the layout of innovation and industry lines.

Innovative micro, small and medium-sized enterprises will be supported to become the major base of innovation, with a professional service system in place throughout the industrial chain.

The notice also stressed deeper and open innovative cooperation and asked the new bases to build international platforms, further participate in global cooperation and cultivate international brands.

The term “mass entrepreneurship”adapts Prof. Edmund Phelps’ concept of “mass flourishing,” for which Phelps, a Nobel Laureate in economics, received the China Friendship Award in 2014. The Friendship Award recognizes foreign experts who have made outstanding contributions to the modernization of China.

Phelps’ 2013 book on mass flourishing appeared in 2013. On February 5, 2018, Edmund Phelps attended and spoke at a meeting of Foreign Experts with Premier Li Keqiang of China’s State Council at the Great Hall of the People in Beijing. Premier Li remarked at the more recent February 5th meeting that Phelps’s Mass Flourishing is important for China’s new era of innovation. 

Epidemic control

Beijing has tightened epidemic prevention and control measures following new reports of local Covid-19 infections, local authorities said Sunday.

Sporadic cases have been reported recently in several places in Beijing, and the epidemic prevention and control situation is grim, said Xu Hejian, a spokesperson for the Beijing municipal government at a press briefing.

Beijing will tighten personnel flow management in parks, scenic spots, performance venues and other tourist gathering places. Those venues are permitted to operate at 75% capacity. The capital city will also conduct mass nucleic acid tests on new employees in public service industries such as catering establishments, retail markets, farm produce markets and supermarkets.

During the forthcoming New Year and Spring Festival holidays, Beijing will not hold temple fairs or large-scale mass cultural activities in principle.

Investment in transport

China’s fixed-asset investment in transport is forecast to reach over 3.42 trillion yuan (US$523.47 billion) this year, according to a national transport work conference.

In a breakdown, railway sector investments will likely reach 778 billion yuan, and that on civil aviation will hit 105 billion yuan. Road and waterways construction will take up the largest share of investments, with more than 2.54 trillion yuan, said the conference.

The country will invest about 2.4 trillion yuan in the transportation industry in 2021, said Minister of Transport Li Xiaopeng.

China is forging ahead in developing a comprehensive and multidimensional traffic network that is intelligent, safe and green to become a world leader in the field, according to a white paper released on December 22.

By the end of 2019, China had 139,000 kilometers of rail track, of which high-speed lines represented 35,000km. It also had a total of more than 5 million kilometers of highways, of which expressways represented 150,000km, according to the white paper.

Greater Bay Area

Shenzhen Customs in South China’s Guangdong province has launched the first pilot project of the Guangdong-Hong Kong-Macao Greater Bay Area combined ports initiative, as part of the efforts to further improve the business environment and promote high-quality development of the Bay Area.

The pilot project connects Shenzhen’s Shekou Port – an important port in South China for oceangoing vessels – and Guangdong’s Shunde Port, an inland port that contains abundant manufacturing resources but cannot receive large international freighters directly due to geographical reasons.

Earlier, containers shipped from inland ports had to transit at Shekou Port for completing the necessary procedures. With the launch of the project, containers imported and exported from Shunde Port do not need a second Customs declaration, which significantly reduces the time and cost of Customs clearance and improves the level of trade facilitation.

Company news

Chinese smartphone company Honor, which gained full independence from Huawei Technologies earlier this year, has signed an agreement with Microsoft and will use Windows 10 as its official laptop operating system across the globe.

The move marks the first time for Honor to announce cooperation with a foreign company after it was sold by Huawei, and it could pave the way for more partnerships such as with the US chip giant Qualcomm Inc in the near future to solve Honor’s supply issues, experts said.

Honor said in a statement that the new generation of Honor MagicBook series products equipped with Microsoft Windows 10 will be launched in China in January 2021. The Honor notebook MagicBook Pro equipped with Microsoft Windows 10 and Intel Core i5 processors will land in overseas markets in January.

Yuanfudao, an online tutoring firm, said it has raised funds worth $3.5 billion so far this year, after completing a new funding round of $300 million recently, as the online education sector continued to surpass other sectors in China in terms of financing deals.

Investment firm YF Capital was the investor in the latest round of funding, according to tech media 36Kr. Yuanfudao confirmed the news and told China Daily that it was “part of the fundraising plan.” However, YF Capital has not yet commented on the issue.

The stories were compiled by Nadeem Xu and Shan Hui and first published at ATimesCN.com.