BEIJING, Jan. 23 (Xinhuanet) -- A cooling property market, an oversaturated manufacturing industry, and weaker overall global demand. Those are some of the major challenges for China. But Premier Li Keqiang presented solutions to the world at the World Economic Forum.
"Entrepreneurship" is set to become a new engine for economic growth. Those who want to start a business will get approval from the government easier, and their intellectual property rights will be better protected.
A higher standard of living for China's citizens remains a top priority in 2015. More rail and water projects will be built in central and western regions. The government isn't the only entity in China going to work. Private companies will now be allowed into some government-dominated industries and foreign investors will also play a bigger role in economic growth.
(Source: CNTV.cn)
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