The government will speed up work to build China into a leader in manufacturing in 2018, Chinese Premier Li Keqiang said on Monday.

China will work towards meeting the highest international standards in all sectors. Authorities will significantly scale back industrial production licensing, and strengthen product quality oversight, Li said.

He made the comments in an annual government work report to lawmakers during the opening meeting of the first session of the 13th National People's Congress (NPC), China’s national legislature, which is being held in Beijing from March 5 to 20.‍

“China will encourage the spirit of craftsmanship, and ignite a revolution in the quality of Chinese-made goods,” said Li.

Fields including integrated circuits, 5G mobile communications, aircraft engines, new-energy vehicles, new materials and industrial Internet of Things platforms will be developed, and an initiative to shore up weakness in major equipment manufacturing will be launched, according to the premier. China will also create a number of demonstration zones to support its "Made in China 2025" strategy, a blueprint for upgrading the country's manufacturing sector

There will be a state financing guaranty fund to back innovation, support for leading innovative enterprises in going public, and a nationwide extension of pilot preferential tax policies for venture capital investment and angel investment, Li promised.

Over the past five years, Beijing and Shanghai have been developed into centers for scientific and technological innovation, and 14 new national innovation demonstration zones have been created, thus forming a number of regional innovation hubs.