East China’s Jiangsu province has released 27 pro-business policies to enhance the entrepreneurial spirits and seek high quality economic development, according to the Implementing Opinions on Creating a Healthy Growth Environment for Entrepreneurs, Encouraging Excellent Entrepreneurship, and Giving Better Play to the Role of Entrepreneurs.
The pro-business policies highlight the creation of a good environment for the rule of law of entrepreneurs, a fair competition and market integrity environment and a social atmosphere for entrepreneurship.
The Opinions propose that the protection of entrepreneurial property rights should be incorporated into the rule of law by increasing the protection of entrepreneurial innovation rights and interests, and promoting the national punitive damages for intellectual property rights such as patents, trademarks and copyrights so as to make it costly for infringement on intellectual property rights.
It is also proposed that to create a cultural and social atmosphere that encourages innovation and tolerance for failure, we must give more understanding, tolerance, and help to failures that occur in legitimate operations by establishing a fault-tolerant and error-correcting mechanism for state-owned entrepreneurs, exploring the marketization of provincial-owned enterprises, hired managers and professional managers.
The "Opinions" also proposes to train science and technology entrepreneurial teams with global perspective, strategic thinking, and continuous innovation capability. In particular, through the implementation of the Jiangsu New Generation Entrepreneurship Training Program, a new generation of entrepreneurs will be trained.
On the other hand, entrepreneur also have to fulfill the obligation of honest management and fair competition. The "Opinions" also stipulates that Jiangsu will establish a joint incentive and punishment mechanism with "red and black lists" as the core, and improve the "red list" of honesty and integrity and the "black list" of untrustworthy subjects, and treat entrepreneurs' good credit status as the evaluation basis for types of administrative approval. The reference conditions for the permit shall be implemented in accordance with the law for the punishment of those who have been severely distrusted, such as blacklisted and untrustworthy persons.
(Source: Jiangsu International Channel)
