2016-China puts faith in start-up boom

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Re: 2016-China puts faith in start-up boom

Post by Yacheng on Thu Sep 22, 2016 1:07 pm

The government has a dominant position in China ‘s economy. It introduces the policies that fit the current stage of economic development. The structure of our economy has transferred from agriculture to industry. Nowadays, the government focuses on service sectors by promoting entrepreneurship and innovation.
Through government grants, tax refunds and private equity investment, the start-up companies do take advantages of them to seize the business opportunities and to accelerate the products development process.
However, as the article mentions the biased distribution of government grants, protectionism and inadequate intellectual properties protection, these factors may have impact on entrepreneurs’ enthusiasm.
The economic development is a slow process. As it continues, government will cover these problems mentioned above. At least for now, the government is on the right direction to promote a good environment of innovation and entrepreneurship.

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Re: 2016-China puts faith in start-up boom

Post by shan jianqiu on Thu Sep 22, 2016 6:33 pm

China economy can't rely on the old big companies owned by governments any more. They are too big to find real competitors in the market. That makes them lose productivity and creativity.China need more diverse economy to support the sustainable development. Private companies are playing more important role in our country. They are not strong, but very ambitious and competitive.They need be creative in their industry to catch up the pace of today China's development. To bring more entrepreneurs in this country is need more supports from the government. The country need provide more freedom environment to people who wants to create a new company. Also they need more financial supports like tax reduced, easy to get loans from bank.
China starts to change its old economic structural,it is a good sign to new entrepreneurs. They should be prepared to this trend and take their new ideas into the market.

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Re: 2016-China puts faith in start-up boom

Post by Chenchen Guo on Thu Sep 22, 2016 7:01 pm

As implied by the report, the government will fail to create an entrepreneurial society and start-up boom by financial support only and obviously there is no short-cut for a tough marketplace like mainland China. The government should focus on creating an entrepreneur friendly environment without intellectual property infringement issue first, which will drive positive competition and create a burst of innovation. It is important to explore diversified paths to entrepreneurial success rather than expecting the success story of Alibaba to be copied.

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Re: 2016-China puts faith in start-up boom

Post by Fu Zhenyu - Demi on Thu Sep 22, 2016 8:55 pm

The background of China government promote the growth of start-up companies is to reboot the China's economy. It is good if the government treat all the start-ups in different field equal.But the government set different priority to different industry, like put fist priority on Internet start-ups, telecoms and software companies and robotic companies.
Once central government set the priority, all local governments  put their preferential policies to the same industry. This is unfair to other industry's start-ups, it also caused heat competitors in its selected industry. We can say that the government tend to select the industry it want to invest in and can get money back in a short cycle.
I thinks in one hand central government should build a fair environment for all start-ups. In another hand, as different provinces have their own situation, local governments should execute central government's policy flexibly base on the local situation rather than completely copy the policy, rush to the selected field.

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Re: 2016-China puts faith in start-up boom

Post by Kelvin Hao on Fri Sep 23, 2016 2:19 am

From the article, we can see the purpose of the government is to promote more innovations and more employment through the start-up bloom. From my opinion, it is not effective way to help China and also help young people. In Chinese market now, most mature companies are facing very keep competition even with cutting edge technology, famous products, top talents and big market share. The market for start-up companies is very small. That is the reason why it is widely convinced that only 1% of the start-up companies could survive finally. But how about other 99%? The lost money, time and even family. They have to struggle for difficult life after the failure. Does government realize it and could further help?

In addition, the true innovations come from very few talents or quite deep research. Most start-up companies are impossible to have any innovations. I heard lots of stories about how they start up. They just copies existing products or existing business models to enter the market and compete with others. So how could they finally win? And what kinds of innovations could come from them?

I suggest government could work out more effective policies to really help young people to find their right career path rather than encouraging all of them to start up new companies. Further, the funding could be well allocated to real innovations

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Re: 2016-China puts faith in start-up boom

Post by Carol-HuangSuYao on Fri Sep 23, 2016 5:39 am

It is a wind indicator that the government put more effort on economic restructure to confront the impact by the Fourth Industrial Revolution. Compared with the past decades, now the focus of government moves away from heavy industry towards a more service sector-led model driven by consumption. The emerging industry such as intelligent technology is absolute the emphasis.

The government takes some measures to encourage the growth of start-up companies, including policy support and financial support. However, these measures should be implemented based on a rational and transparent rules. The government should make a standard to evaluate which companies can be supported instead of the connection with government.

On the other hand, the government should amend laws to protect intellectual property. Otherwise, it would strongly harm the motivation of the companies and hinder the development of industries.

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Re: 2016-China puts faith in start-up boom

Post by Xiaoyu Yuan on Fri Sep 23, 2016 6:20 am

I still remember on the first class, when professor Ali asked do we think government can promote creativity and followed by a short debate. I was with team YES. And I am still with.

In China, government played a domain role in business, what type of business is allowed, how much the amount of money is allowed for investment, is individual business legal, etc. In another word, government's role in encouraging creativity is more like providing a open environment where people's creativities get the chance to be realised. Of course, creativity is something self-motivated, however, creativity in business can be foster and guided. And that's also the reason why we are taking MBA classes. It's not like after everyone had graduated from MBA course, everyone learned the skills to be a great manager, but it's the theory, method and ways of how we learn, analysis, practice and understand.

There is still a bunch of issues need to be solved with time in this market, but I believe government is playing a positive role in promoting creativity.

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Re: 2016-China puts faith in start-up boom

Post by zhuyun on Fri Sep 23, 2016 7:06 am

If China want to continue to have a better economic development in the future, I think we need to rely on the entrepreneurial company. Their innovative ideas and business models are emerging that inject a lot of new vitality to the Chinese enterprises.With the rapid grow, more and more start-up companies through their own efforts to the world.

From this article,we can see that The Chinese government has prioritized supporting entrepreneurship as it grapples with flagging grow.However,there are still have many problem,so I think the government needs to introduce new policies and laws to protect these entrepreneurial companies.

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Re: 2016-China puts faith in start-up boom

Post by Yang Banghao on Fri Sep 23, 2016 5:49 pm

China has made plenty of policies to promote entrepreneurship, such as cutting red tape, offering tax rebates to start-ups and making it easier to register new companies. Many start-up companies, which have been supported financially, can put more capital into research and development to improve the core technology. But very few companies are lucky to get money from investors, and others may not survive without investment. For China’s condition, merely financial help is not enough. A system of protecting intellectual property is urgently needed to prevent companies from coping other’s new technology. Only if the company keeps innovation, improving core competitiveness, will it grabs more market share and expands.

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Re: 2016-China puts faith in start-up boom

Post by Shijia_Zheng on Fri Sep 23, 2016 6:00 pm

In China, an interesting phenomenon, which is worth well thinking over, is that most of innovation leads in society or market are led or took over by government. This phenomenon is so different from other developed countries where privates have high motivation into drive innovation, and it also indicates a fact that government controls the majority of the resources.
There are pros and cons with regard to the innovation efficiency when government is leading this area in China. In my perception, I won’t support any side of this debate since we shall look into it case by case. We’ve got examples like Jack Ma, the founder of Alibaba, achieved a sounding success in e-commerce globally without government support at that time.

Meanwhile, we’ve also witnessed the growing success from small entrepreneurs in colleges with government funding. Government can be a good source of resources like financial aids, supportive policy making and etc., and it also can be a disruptor in innovation when there is no painpoint analysis and thus no precision support.

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Re: 2016-China puts faith in start-up boom

Post by Xiang.Du (Bob) on Fri Sep 23, 2016 6:04 pm

As it is mentioned that ”Last year,4.4m companies were registered in china.” ,12000 new companies were founded each day in 2015. China is building a start-up boom with huge support from central government all the way down to local government in three aspects of creating investment funds, providing cash subsidies (such as tax rebates) and building incubators known as Zhong Guan Cun, in Beijing.More and more young men who are not satisfied with ordinary job opportunities seek for the abundant wealth accumulation and take “start-up” as a shortcut. Some of them spend most time to obtain government subsidies or deal with the venture capitalists and focus on expansion instead of innovation, which raise concerns in the protection of intellectual property and finally go against the original policy intention. Sensible government policy around innovation and protection of intellectual property can cushion the negative impact of start-up boom. The establishment of “innovation mechanism” is to guarantee start-up entrepreneur to cultivate technology innovation and promote competitiveness.

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Re: 2016-China puts faith in start-up boom

Post by Jeff Liang on Fri Sep 23, 2016 6:07 pm

We have so many social communication manners, why still so many people prefer to think themselves in a bad situation, which will spend more than 20% of daily energy according to Mr. Ali’s course. Smart guys are going to use past experience rather than think out a new way to solve some problem, me too!

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Re: 2016-China puts faith in start-up boom

Post by jibinli on Fri Sep 23, 2016 6:21 pm

It's definitely great for innovation and creativity to have more investment and tax refund. This will help some entrepreneurs standing out. However, I believe this is external factors that affect innovation of the whole society. Internal factors are more important for entrepreneurs to do start up.
1. Creativity rather than responsibility. In many companies, one is likely to take his own responsibility rather than be creative on his role to contribute for the function. Enterprises should be encouraged to encourage its employees proposing ideas that help the company.
2. Education. Most Chinese students are still educated for exam and university, and even university students study for good grades. More creative and innovative disciplines are suggested to be launched.
3. Is diversity accepted in the society? More diversities are encouraged to nurture more entrepreneurs.

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Re: 2016-China puts faith in start-up boom

Post by Lin Shuqing on Fri Sep 23, 2016 6:43 pm

It’s a good news that the Chinese government would like to encourage mass entrepreneurship and innovation. But I am a little concern about some actions that the government has taken. One is the government encouraged everybody to set up a business. That may cause too many unqualified companies rising and competition heating up. Another one is the local government picked companies they would like to invest. That may cause unfair competition and unstable economy.

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Re: 2016-China puts faith in start-up boom

Post by jameswang on Fri Sep 23, 2016 7:08 pm

China's rapid development since late 1970s due to government put itself into innovation and been creative.this is important fact but not opinion when we discuss innovation and enterunership.without this China can not reach such great success in economics.however the Chinese government should learn from united states and iseral government etc. which done better in new technology,new business model gestation. which need use new method,with new systems. which can also feedback us with new great achievement.

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Re: 2016-China puts faith in start-up boom

Post by yangqing on Fri Sep 23, 2016 7:24 pm

We can noot look forward to laws to standard our behavior completely.There is faith. With 30 years,develpment on economy,we loose faith gradually.What we did follows laes,but it doesn't harm to our environment and human beings? We know the answer clearly. Faith will assist laws to guide us.

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Re: 2016-China puts faith in start-up boom

Post by hengchao on Fri Sep 23, 2016 7:38 pm

This author of this article does understand some of the policy of the China ,but it is not all . The author doesn’t understand the culture ,back ground and the current law of China

Firstly ,The Chinese government do “encourage people to start their own business and to make innovations “.To conduct the encouragement , Government take a lot of tools to effect which is not only include the tax rebate ,direct cash award , legal support ,but also include more terms which the enterprise should comply with . And such kind of support would release the vigor of the enterprise and also would help to decrease the pressure of the enterprise .

Secondly. Most of the foreign reporter can not under stand the mean of “relationship” in china . Now ,A enterprise has a good relationship with government doesn’t mean the enterprise would get more special treatment . Before the enterprise could get more incentive from government , the opportunity to bid for the incentive is fair to every enterprise . Enterprise couldn’t get more added support before it could match the rules which are broadly accepted.

Thirdly ,The Author didn’t understand the legal of the government . Apple failed in court to ask govern’t forbidden a lot of leather makers to use the name of apple . The author doesn’t explain the details of this case . But infact , Law would protect the trade mark and IP which were apply and approved earlier and I apply didn’t protect he clothing category , the law still allowed to protect the enterprise who want to resist .

In summary , I do believe that the government is try all the best to support small enterprise developing well . And I feel a strong prejudice from this article .

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Re: 2016-China puts faith in start-up boom

Post by AdamWang on Fri Sep 23, 2016 7:49 pm

Government plays an essential role in China's business world,two sides as below can provide some of the pressures on the start-up companies' shoulders:
1) Investment: creativity requires 3Ts, and all of these need cash to support.
2) Tax-refund: With the new round of encouragement of innovation these could be an extra incentive for these innovators.

On the other hand, more innovations also requiring more protection for them.

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Re: 2016-China puts faith in start-up boom

Post by BoqianWang on Fri Sep 23, 2016 8:19 pm

Tracy Bu Qijun wrote:The support from China government do help lower the barriers to start up a new business. However, it is dangerous to let government decide what industry and who to invest. A typical example is photo-voltaic battery industry . The investment and support from government caused overcapacity of this industry and in the end many companies supported by government had to close down.

Regarding to capital investment, instead of directly pump money into certain business, government can facilitate to establish an independent 3rd party organization to do massive market research and to monitor and follow up on the cash flow of the investment from government. But even in this way, it is still difficult to say the money flow into the right industry.

It is always easier for government to support start up by money. However, it will be more beneficial to the society if government can use its power and resource to facilitate the creation of an innovative environment in China. Market regulations and standards need to be set up and completed. Intellectual Property need to be protected. Monitoring mechanism need to be set up against protectionism and cronyism. And then let the market make its choices in a relatively fair environment.

Could't agree more.
To encourage innovation, the government does not play a key role. One example is government subsidy. Normally if gov sets such subsidy, who can get it? It will be those who meet the criteria that gov set. This kind of game usually leads to a phenomenon that many enterprises try various ways to get this subsidy money. But does it certainly result in innovation? There should be a question mark. On the other hand, even if it leads to innovation, does this kind of "innovation" will be accepted by the market? Still a question mark. Hence, innovation should be decided by the market. The government affection is quite limited.
Secondly, it is really a good thing that the government lowered the start-ups entry barrier. It led to, as the article says, 4.4m company registration in 2015, a 21.6% rise compared with 2014. But, as the article mentioned, it caused competition heating up in existing industries. This is just a perfect example that the impact of gov to encourage innovation is limited.

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Re: 2016-China puts faith in start-up boom

Post by Jeff Liang on Sat Sep 24, 2016 3:04 am

China's economy mainly relies on investment, especially in infrastructure construction and real estate. Still fresh memory of last year’s stock market crash, I got earful information from Bloomberg researcher that half of Shanghai City’s GDP was attributed by housing market. We don’t want to take another heavy losses but we don’t how serious and when will be housing crash.

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Re: 2016-China puts faith in start-up boom

Post by gaozhiqun on Sat Sep 24, 2016 3:42 am

I agree with your point of view to a certain extent.
As a developing country, China is moving from industrial age to information age. The Chinese government does play a major role in this start - up wave. But the government should not engage in too much.
Such as Shenzhen, a very typical entrepreneurial city, emphasis on speed, rely more on self-regulation of the market. The government only provides some preferential policies, special tax relief, creating the business platform, but didn't use directions. These give entrepreneurs more space for development. Compared to Shanghai, the government launch some very detailed standard, hopes to lead the market. But this will limit the innovation, also restricts enterprise development. In terms of government involvement in market regulation, we need to achieve a balance.

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Re: 2016-China puts faith in start-up boom

Post by ceciliazhang123 on Sat Sep 24, 2016 9:58 am

China economy had been developed rapidly with double digit growth rate, and some people and companies have accumulated lots of money and fortunes with cheap labor forces, but lack of creativity and innovations. Now the cost for labor force is increasing in China, and growing of population is slow down, China must step out of the box and look for a new way for futher development. It is important for Chinese companies to do more innovations to create different and high-quality products. We can see that Chinese government is emphasizing intellectual manufacturing in China, that is a start of real revolution, but we still have a long way to go.

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Re: 2016-China puts faith in start-up boom

Post by Aaron Min on Sat Sep 24, 2016 10:04 am

As the conceptual age coming to us, the endeavor of Chinese government for cultivating entrepreneurship should be recognized. The society should have more entrepreneurship as the future work force structure would be significantly changed with new technology. For instance, lots of jobs would be replaced by robots and artificial intelligence.

However, the approach of cultivating the entrepreneurship should be reconsidered. The personal connections would decide which company would be qualified to have government investment or tax benefit. Instead of pouring money directly to the company. The government should consider develop a mechanism to identify potential startups with future contribution to the country. Instead of government itself but organizations with expertise should decide who should the money goes to, for instance incubators or investment companies. What should be done by the government is to establish policies for those organizations to better identify and invest the startups.

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Re: 2016-China puts faith in start-up boom

Post by zhangfang16GA on Sat Sep 24, 2016 10:27 am

Now Chinese economy may be in a dilemma. The current situation of economy needs new power to reboot. The government unveiled policies to implement economic transition, such as encouraging “mass entrepreneurship and innovation” ,hoping that could motivate more enterprise which could be like Alibaba.

On one hand, the support of government is necessary to new companies. Not only the incubators provide the hardware to set up a company, reducing the cost, but also the new measures from government to promote innovation and entrepreneurship, such as good tax policy, more convenience to register new companies, give the entrepreneur more faith and motivation. All of those policies are incentive systems to boom up the Chinese economy.

On the other hand, state-owned enterprises still control the main sections of the economy, and the systems of economy and law, which are not perfect, could be the obstacles. The economy should be developed step by step. Trying to short-circuit may be aggressive and dangerous. Pick a good investee is not easy, and should based on the industry, the development prospect and the management. The government should not be involved too much. Abiding by the rules of investment and making rational choices and decisions may be the best way.

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Re: 2016-China puts faith in start-up boom

Post by zhouch_sh on Sat Sep 24, 2016 11:53 am

in China, for many years, government have lots of guidelines and rules to tell people what to do, what cannot do. today, the government start to encourage people to do innovation, means the environment is much opening. the society will become more creatively, this ia the core competitiveness for a country.
at the same time, there's a worry. lot of young people start to try think creative things, they think it would be a nearest way to be successful, but ignore the basic practices. so the government can provide some guidelines for creativity and innovation to help young people.

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