Business
23:05, 05-Sep-2017
Chinese premier underlines innovation in economic upgrading
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Chinese Premier Li Keqiang has stressed the role of innovation in upgrading and transforming the economy.
During an inspection tour to north China's Shanxi Province on Monday and Tuesday, Li visited a base for entrepreneurship and innovation, applauding its services to small- and micro-sized enterprises and its model which integrates research and development with production.
The base offers a platform for small companies to innovate, which can also help create considerable economic and social returns, Li said.
Chinese Premier Li Keqiang talks with workers during an inspection tour to north China's Shanxi Province on September 5, 2017. /Xinhua Photo
Chinese Premier Li Keqiang talks with workers during an inspection tour to north China's Shanxi Province on September 5, 2017. /Xinhua Photo
"Integrating creativity with the market will form a strong new impetus and make a huge contribution to economic transformation and upgrading," the premier said.
Li told enterprises to continuously promote eliminating outdated production capacity, as it is important for the supply side structural reform. Meanwhile, he encouraged enterprises to open up markets to social capital when merging and reorganizing enterprises.
The employees, who used to work for outdated capacity, may be a “burden” in their original enterprises but can become talents in new enterprises, unleash more potential and create more wealth, Li added.
Li also praised the talented people serving in the first phase of implementing this innovation-driven development strategy. He urged enterprises to better mobilize people's enthusiasm and creativity in order to improve the core competitiveness, which is credited as a key point in this strategy.
Chinese manufacturing and production should not only be competitive in price, but also in quality, Li stressed.
Source(s): Xinhua News Agency