CPPCC Members Urge Greater Support for One Person Companies(Yicai) March 10 -- China’s top political advisory body has heard calls for more support to be made available to one person companies, and local governments have issued draft proposals in recent days seeking public opinion on policy support for this new type of entrepreneurship.
Several members of the Chinese People's Political Consultative Conference have put forward suggestions to allow OPCs to engage in a broad range of areas.
“We need to provide clear support for young entrepreneurs,” Long Wanli, a CPPCC member and deputy mayor of Shanghai’s Jing’an district, told Yicai. With OPCs “we should help young people lower their startup costs and offer full-chain support from content production to industrial transformation.”
Zhou Hanmin, a member of the Standing Committee of the National Committee of the CPPCC and president of the Shanghai Public Diplomacy Association, pointed out that OPCs need help from micro-entrepreneurship funds.
For the incubation of young people’s business projects, Zhou said there must first be creative ideas and intellectual property, followed by production bases and distribution platforms, and finally digital simulation. He suggested that micro-entrepreneurship funds could be allocated to OPC projects, and also said there needed to be a certain tolerance for young entrepreneurs to make mistakes.
Some local governments have already begun to take action. Changshu in eastern Jiangsu province released a draft for public consultation today, introducing 13 support measures for OPCs, including subsidies of as much as CNY6 million (USD872,802).
Hefei Hi-Tech Industry Development Zone announced 15 measures, with financial support of up to CNY10 million (USD1.45 million), and Longgang district in Shenzhen set out similar plans yesterday, such as offering new OPCs free computing power, discounts on office space, and grants of up to CNY2 million.
Editor: Tom Litting