The China we knew as the enormous economy largely fueled by cheap labor and inexpensive manufacturing has changed. Though happening slowly compared to its potential, China is becoming one of the most innovative economies on the planet and the birthplace of entrepreneurs like Robin Li, CEO of Baidu, who are entrepreneurial rock stars at home and around the world. Entrepreneurial capitalism seems to be taking hold in China. How is entrepreneurship overcoming the roadblocks of a planned economy?
Part of the answer is that the government, interested in developing the country's potential, is more and more interested in entrepreneurship, reflected, for example, in the National Natural Science Foundation of China’s (CNSFC) funding of the Chinese Panel Study of Entrepreneurial Dynamics (CPSED) which will measure business creation. China has also established the Entrepreneurship Foundation for Graduates (EFG) with a mission to create a favorable entrepreneurial environment by promoting commercialization of scientific and technological breakthroughs and inspiring innovative minds to cultivate creative and entrepreneurial talents. EFG is the proud host of Global Entrepreneurship Week/China.
To read the full, original article click on this link: A Bright Future for Entrepreneurs in China - Entrepreneurship.org
Author: Jonathan Ortmans
