Tianjin Economic Research Association of Mass Innovation founded

The Tianjin Economic Research Association of Mass Innovation was founded on the slogan: Times of mass innovation: the new motivation and journey for Tianjin's economy. [Photo/Xinhua]

A forum co-hosted by the Tianjin Economic Association, the Tianjin Federation of Social Science, the Binhai Development Research Institute of Nankai University, the Nankai Institute Of Economics, the China Society of Industrial Economics and the Beijing-Tianjin-Hebei Development Research Center of Hebei University of Technology recently attracted over 50 experts from Tianjin and Hebei. The Tianjin Economic Research Association of Mass Innovation was inaugurated at the forum.

Over 50 experts from Tianjin and Hebei attend the forum. [Photo/Xinhua]

China has good innovation ability, but lacks entrepreneurship; Chinese startups have strong product innovation capability, but lack start-up business skills, internationalization, a competitive environment, technological absorption and risk tolerance capability; China has advantages in enriched markets, infrastructures and macroeconomic environments, but lacks market efficiency and is harmful for resource and environment – these were some of the views expressed at the forum.

From the change to a micro economic structure in 2012, the new economy, mass innovation and an entrepreneurship-oriented economy is being formatted and developed. A complete innovative system is key to its promotion.

The Tianjin Economic Research Association of Mass Innovation will continue to pursue Tianjin's economy and Beijing-Tianjin-Hebei coordinated development.