China’s first youth white paper highlights innovative entrepreneurship

China publishes the country’s first white paper, “Chinese Youth in the New Era” on April 21, 2022. /CMG

China publishes the country’s first white paper, “Chinese Youth in the New Era” on April 21, 2022. /CMG

The Information Office of the State Council of China on Thursday released a white paper entitled “Chinese Youth in the New Era” — the first of its kind focusing on China’s youth.

The white paper documents achievements in the country’s youth development in the new era and reflects the spirit of its youth.

The newspaper said that in recent years, China’s youth have shown rich imagination and creativity, open-mindedness and pioneering spirit. They have the spirit to engage in ever-increasing international competition and have become a powerful force driving innovation and entrepreneurship.

Innovation in science and technology

Supported by political incentives from the Chinese Communist Party and the central government, young people are taking the lead in innovation, establishing enterprises and striving for excellence, serving the country and the people with their ingenuity and expertise in economic, social, technological and cultural fields, says the document.

Under the innovation-driven development strategy and open competition mechanisms, a large number of world-class young scientists have distinguished themselves in major science and technology programs, including China’s Tiangong space station, the Jiaolong manned deep-sea submersible, the Five Hundred One-meter Aperture Spherical Telescope ( FAST) Tianyan, the Wukong dark matter probe satellite, the Mozi quantum science satellite, the Tianwen-1 Mars probe and the Chang’e lunar mission, according to the white paper.

The average age of the core members of the Beidou navigation satellite system research groups is 36 years, and the corresponding figures are 35 years for Mozi and 30 years for Tianyan.

Entrepreneurship of young startups

Each year, more than three million science and technology and engineering students graduate from Chinese universities, which continue to fill the ranks of the country’s engineering ranks.

Well educated and highly qualified, they give China an “engineer bonus”, give impetus to the country’s development and improve its position in international competition, the document further said.

China has introduced a number of policies to support business start-ups, and young people are responding positively.

Active in entrepreneurship programs such as China College Students’ Entrepreneurship Competition and China International “Internet+” College Students Innovation and Entrepreneurship Competition, they shape careers with their knowledge and ingenuity.

Among market company founders registered since 2014 are more than five million students and recent graduates. In creative industries such as IT services, culture, sports, entertainment and sci-tech, young people make up half or more of the workforce and are at the helm of many unicorn and gazelle companies.

Unicorn companies are those that reach a $1 billion valuation without being publicly listed, while a gazelle company is a young, fast-growing company with at least $100,000 in base revenue and four years of sustained revenue growth is.

The white paper also said that young people should balance individual interests with national development, use their talents to innovate and start businesses, while serving society.

(With input from Xinhua)

Leave a Comment