China's incubators foster 620,000 startups by 2018: report

China's 11,800-plus incubators had helped nurture about 620,000 startup enterprises and teams by the end of 2018, said a report by Torch High Technology Industry Development Center.

As of 2018, China was home to 11,808 incubators, which helped generate job opportunities for 3.95 million people working in startups, according to the report released Thursday at a forum in Hangzhou, capital of east China's Zhejiang Province.

The report by the center, which is under the Ministry of Science and Technology, also showed incubator-fostered startup enterprises in China own about 106,000 invention patents.

Chen Qing, director of the incubator management department at Torch High Technology Industry Development Center, said China's incubators have been providing more professional and diversified services to startups in recent years, and the quality of incubator-fostered startups has been improving.

Source(s): Xinhua News Agency