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Shanghai has one entrepreneur per eight young people

Author  :       Source  :    People's Daily     2017-04-25

A survey of Shanghai public entrepreneurship found that the city’s overall entrepreneurial activity rate was 11.9 percent in 2016, up from 11.5 percent in 2015. The data also showed that the entrepreneurial activity rate among people aged 16 to 35 was 12.4 percent, which means that one out of every eight young people is entrepreneur, a slight increase compared with 2015.

The city’s rising youth entrepreneurship activity was mainly driven by three factors. Education about innovation and entrepreneurship is increasingly common in universities in Shanghai, affecting the career preferences of young students. Public awareness of entrepreneurship is gradually changing, forming an atmosphere that is more tolerant of mistakes. In addition, a series of supporting policies, such as financing and rent subsidies, issued by the municipal government have effectively encouraged young people to start businesses.

Editor: Yu Hui

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