Chinese premier stresses reform, innovation to promote growth

Chinese Premier Li Keqiang on Sunday highlighted reform and innovation to upgrade growth during his visit to companies in the northern coastal city of Tianjin on the sidelines of the Summer Davos Forum.

At Tianjin Optical Electrical Group Co., Ltd., the premier commended the company's efforts in pursuing innovation-driven development, boosting innovation and entrepreneurship as well as facilitating commercialization of scientific and technological achievements.

Big state-owned companies should make good use of "innovation and entrepreneurship" in order to take a lead in the market, Li said.

Learning high-tech firm Troila Technology has successfully developed a platform for manufactural transformation and upgrading to serve tens of thousands of enterprises, he said more service platforms should be created to effectively aggregate governmental, corporate and social resources.

While visiting Flying Pigeon Cycle Development Co., Ltd., the premier said the national well-known brand should continuously introduce personalized and competitive products like smart bicycles and new services such as on-board communication.

"To pursue greater successes from a fresh starting point, the Flying Pigeon should add wings of reform and innovation," said Li.

Praising Tianjin government's efforts in boosting private investments and supporting small and medium-sized enterprises, he said government function transformation is key in tapping potentials of private investments and promoting the supply-side structural reform.

The premier also encouraged Tianjin to continue to play an active role in promoting reform and innovation as well as in pushing forward Beijing-Tianjin-Hebei coordinated regional development. Endi