Problem:
It has been widely acknowledged that new business creation is a characteristic of a dynamic economy and an important component of regional economic growth. Please discuss and evaluate (1) the contribution of new business creation in general and in China, to regional and national growth policies, and (2) the possible barriers to new business creation and regional development.
(Please use PESTEL, Porter's Country Diamond, PULL & PUSH forces to critically analyze the possibility of starting a high technology business in China; pointing out the opportunity, barrier of entry, difficulties of development, required drive from the government and so on. Adequate references and 1,200 words are needed.)