President Xi Jinping on Tuesday paid a visit to the Zhengzhou Coal Mining Machinery Group Company, where he urged for greater development of a real economy bolstered by manufacturing. Xi also said that although China is the world's largest manufacturer, efforts still need to be made towards industrial transformation and innovation. Xi further stressed the importance of technical and industrial innovation as a vehicle to improve the country's manufacturing. On Tuesday Chinese Premier Li Keqiang held talks with his Russian counterpart Dmitry Medvedev in St. Petersburg. In a joint press briefing, Li said the two countries should continue to open up their markets, and work together to achieve mutual benefits. So why should China be concerned about moving up manufacturing industry, and trade with Russia in many aspects, although China is already a big manufacturing power? Dr. Liu Chunsheng, a professor at the Central University of Finance and Economics, explains this on CGTN.