1st LD: China eyes reform, innovation to drive less-developed areas

Premier Li Keqiang has stressed the need for more reforms and innovation to boost economic growth in the less-developed central and western China.

"China's central and western parts have ample room for the economy to expand and can be important in accelerating the shift of economic engines," Li said during a tour of Jiangxi Province.

During the three-day tour which ended on Wednesday, the premier visited high-tech firms, industrial parks, rural residences and flood control sites.

Li praised a new business model of Farasis Energy (Ganzhou) Inc., a joint venture of U.S.-based lithium ion battery maker Farasis Energy. The company cooperates with domestic manufacturers to produce customized equipment.

"The new model upgrades traditional equipment manufacturing and will create enormous industrial demand," Li said, adding that it should be promoted in the "Made in China 2025" program.

Li also visited Nanchang's Lattice Power Corporation, the first company in the world to offer volume production of high-powered silicon substrate-based LEDs.

The premier encouraged innovators at the company and promised more policies to help innovation and entrepreneurship and step up the industrial application of new technology.

During a visit in an industrial park that serves architects and designers, Li said China will increase support for small firms and startups to generate more jobs for college graduates. Endi