Eight keywords of China's economy in 2016

2.Innovation and entrepreneurship

China will continue to implement the innovation-driven strategy and promote mass entrepreneurship and innovation. Reform and innovation will inspire creativity and new growth engines while facilitating upgrading of traditional industries.

"Innovation is all-around, including institutional, theoretical, technological and model innovations. China will promote mass innovation and entrepreneurship. Enterprises, the main force of social innovation, shall be motivated to innovate, among which State-owned enterprises in particular shall take a leading role. Individuals are the main force of entrepreneurship. China shall reform the scientific research and education mechanism to tackle existing problems of exam-oriented education, thus cultivating a growing number of innovative talents.

"Enterprises, government and scientific research institutions shall work in collaboration to establish public innovation platforms and form joint forces of innovation.

"The transformation and application of scientific and technological achievements require the support of a multi-level capital market. Therefore, it should depend on financial innovation."

- Xu Hongcai, director of the Department of Economic Research of China Center for International Economic Exchanges

A drone manufactured by DJI hovers in the air as a passenger jet flies over in Nantong city, east China's Jiangsu province, Oct 20, 2015. [Photo/IC]