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Premier Li stresses reform, innovation

Updated: May 24,2016 10:16 PM     Xinhua

Premier Li Keqiang has highlighted reform and innovation to upgrade growth during his visit to Shiyan and Wuhan in central China’s Hubei province on May 23-24.

Reforms of state-owned enterprises should be carried out consistently and the market should be invigorated so that enterprises can be real market entities, he said when visiting a heavy truck manufacturer in Shiyan.

Independent innovation should be highlighted to sharpen competitive edges, he added.

Digestion of excessive production capacity is a key task in supply-side structural reform and inefficient production capacity must be cut firmly, he said when visiting Wuhan Iron and Steel (Group) Corp.

He also urged governments at various levels to protect the interests of laid-off workers.

Premier Li visited Wuhan Donghu New Technological Development Zone, a base for China’s photoelectron industry and a National Independent Innovative Demonstration Zone.

About 60 percent of Wuhan’s economy is underpinned by new dynamics such as high-technology and modern services.

Cultivating new development dynamics and transforming traditional ones can create more jobs and help digestion of steel and coal production overcapacity, he noted.