Initiative to inspire innovation

On April 27, the United Nations General Assembly adopted a resolution designating April 21 as World Creativity and Innovation Day and formally incorporating the concept of mass entrepreneurship and innovation.

This is an initiative China has been vigorously pushing in recent years, believing it will add a new impetus to economic growth and create new opportunities for people around the world. The adoption of such a resolution signifies that the value of China's development concepts is appreciated and recognized by the international community.

The concept of mass entrepreneurship and innovation was raised by Premier Li Keqiang at the 2014 Summer Davos Forum, and then included into the Government Work Report in 2015 and a series of other government documents. At the Fifth Plenum of the 18th Communist Party of China Central Committee in late 2015, "innovation" had pride of place among the major concepts for China's development, and has ever since been viewed as a key factor to drive its economic structural adjustments.

The country also promoted the concept at a time when the Chinese economy was confronted with a series of accumulated contradictions following the 2008 global financial crisis, and it needed to find new growth drivers to sustain its economic transformation and upgrading.

Sparking enthusiasm for entrepreneurship and innovation among Chinese people will release huge potential and offer a new engine for China's economy.

The UN General Assembly resolution on mass entrepreneurship and innovation also testifies that other countries have begun reflecting on the problems brought about by traditional development models, and they are increasingly willing to accept other development approaches.

Given that it is a consensus that the world needs to spark the spirit of innovation and entrepreneurship to address the problems created by globalization, China's initiative has been a welcome inspiration.