眾創、眾包、眾扶、眾籌平臺(zhòngchuàng, zhòngbāo, zhòngfú, zhòngchóu píngtái): Mass innovation, crowdsourcing, collective support and crowdfunding platform

The Government Work Report 2016 proposed building amass innovation, crowdsourcing, collective support and crowdfunding platform and establish a new type of business start-up and innovation mechanism through cooperation among large, medium and small-sized enterprises, colleges, scientific research institutions and makers.

Mass innovation means gathering all kinds of innovation resources in society. Crowdsourcing means helping enterprises or organizations to subcontract the tasks among the enterprises and individuals. Collective support means the government, public institutions, enterprises and individuals jointly support the growth of small and micro businesses and entrepreneurs. And crowdfunding means raising funds from the public through the Internet.

The State Council, China's Cabinet, has issued guidance on the construction of mass innovation, crowdsourcing, collective support and crowdfunding platform, which aims at encouraging joint efforts to promote business start-ups and funding for innovation.

That the term appeared in Government Work Report for the first time this year shows that the government is paying great attention to business start-ups and entrepreneurial innovation. It is expected that the platform will further stimulate the vitality of labor, knowledge, technology, management and capital, and further promote people's enthusiasm to create social wealth.