Western China Development

At the recent inspection trip to China’s Shaanxi Province, Chinese Premier Li Keqiang stressed the importance of promoting economic development and innovation in western China. He addressed the importance that reforms continue and that western China become recognized as an international business environment where institutional transaction costs are low, and citizens are well educated. In terms of entrepreneurship, Li noted that mass entrepreneurship and innovation both have much room to develop in China’s rural areas. Li has asked that local governments create a positive business environment for startups and help farmers increase their income and living standards.