More efforts urged

Even though China has made substantial headway in properly dealing with the relationship between the market and the government, experts have called for more efforts to vitalize market entities and spur innovation.

Wang Yiming, a national political adviser and senior economist, underlined the need for China to deepen market-oriented reforms to redressing weak links in economic development.

The nation needs to expedite reforms dealing with property rights to provide researchers with stronger incentives for innovation and further market-based allocation of capital by expanding the registration-based IPO system to support new business models, Wang said at the 2020 Global Wealth Management Forum held in Beijing in September.

Papp, the tea entrepreneur, said he hopes that the nation will ease pre-establishment regulations in the drink production industry so that it will take less capital and labor to launch a drink business, making it easier for entrepreneurs to innovate.

Jiang Xueqing and Cheng Yu contributed to this story.