Inner Mongolia propels Internet business

(chinadaily.com.cn)

Updated: 2015-07-06

Inner Mongolia autonomous region released policies to push the development of Internet business, according to the region’s administration of communication on July 1.

The newly released policies loosened restrictions over such enterprises’ market access qualifications. The region’s high-tech industrial zones, technological incubators, universities and social organizations are emboldened to build Internet innovation parks. The region also gives?supports to the development of crowd innovation spaces, such as makerspace, a community-operated workspace where people with common interests can meet and collaborate. It also encourages local governments to subsidize incubation organizations.

Moreover, by making use of various methods such as financial subsidies and risk compensation, the region encourages financial institutions invest in Internet business and also encourages Internet enterprises to seek different sources of finances.