This chapter intends to provide a comprehensive understanding on the mass entrepreneurship and mass innovation initiative in China from its formation, to its implementation, to its implication. It identifies that the institutional mechanism, finance, intellectual capital, and services and supports for the entrepreneurship and innovation are the most significant aspects in the entrepreneurial ecosystem in China. Although the policies of the initiative are comprehensive and effective, the majority of them are supply oriented. More policies should be considered based on the constraints and difficulties faced by the entrepreneurs and startup companies, as well as the other participants in the entrepreneurial ecosystem. On the whole, the mass entrepreneurship and innovation initiative has made tangible progress in the improvement of the business environment and in the vitality and diversity of entrepreneurship and innovation activities. Moreover, it is an innovative reform on the institutions and mechanisms of entrepreneurship and innovation, significantly improving the systems and capabilities of governance in China.