"Innovation ideas that we initiated (also) contain the theory and spirit of sharing," said PremierLi Keqiang during the opening of the Annual Meeting of the New Champions in Tianjin onMonday morning.

According to Premier Li, a sharing economy is also an economy that contributes to massinnovation. It is available for every individual to participate in and benefit from, and helpsgenerate a proper pattern for income and its distribution.

Li said that the sharing economy provided equitable competition opportunities for everyone,while also boosting the medium-income group and letting individuals reach their full potentialto pursue the value of life.

"The further development of globalization and the popularization of the internet havepresented a broad stage and extensive space for people to implementing mass innovationand entrepreneurships," Li said.

"By initiating and promoting the mass entrepreneurship and innovation, the innovative ideasand activities are fused together between big enterprises and startups, online and offline,companies and scientific research institutions, for effectively crowdfunding, crowd innovationand crowdsourcing."