In line with the Chinese university's promotion of student entrepreneurship, statistics announced by the Ministry of Education at a forum on innovation and entrepreneurship this month show that 82 per cent of the country's universities are offering compulsory or optional courses on entrepreneurship and innovation in the 2015-16 academic year, up 14 per cent compared to 2014. According to the Ministry, more than 3 million college students have participated in innovation and entrepreneurship activities so far this year.

Aside from universities' own promotion, the Chinese government has also introduced a number of policies which are strongly supportive of student entrepreneurship. This support comes in the form of financial incentives, including funding for startup businesses and tax relief for students and recent graduates engaged in solo businesses; relaxing approval and accreditation procedures for students starting their own businesses, including a particular loosening of restrictions for those who had been studying outside their home province; entrepreneurship training subsidies for final-year students and recent graduates; and support for universities' policies in this area. One result of these policies has been that 478,000 university and college students started their own businesses in 2014, up 119,000, or 33 per cent, over 2013.

Earlier this month, Vice Premier Liu Yandong reiterated the Chinese government's support for international cooperation in this field, saying that international cooperation and exchanges, especially the introduction of high-quality educational resources into China from abroad, will support innovation and entrepreneurship.

Analysis:

Student and graduate entrepreneurship has been an important theme of China's education policy over the last year, with strong government support of policies such as allowing students to take time off from their studies in order to develop their own businesses. The government appears to see this as one of the key ways to revitalise China's economic growth.

The government has expressed approval of overseas cooperation in this field on a number of occasions, suggesting that there may be strong opportunities for UK institutions to work with their Chinese counterparts on relevant projects. A recent report by the Centre for China and Globalization suggested two forms that this cooperation could take: direct training for students adapted from overseas courses and materials, or teacher training delivered to domestic institutions’ academic staff by overseas experts.

Sources:

1. http://news.xinhuanet.com/english/2015-10/20/c_134732983.htm

2. http://finance.people.com.cn/n/2015/1027/c1004-27745092.html

3. http://news.xinhuanet.com/english/2015-10/29/c_134763036.htm