Li calls on firms to help bolster tech capabilities

Premier Li Qiang has encouraged businesses to make innovation their mission and develop more key technologies and crucial components to excel in new sectors and contribute to the nation's self-reliance in science and technology.

During a fact-finding trip to unicorn companies, startups valued at over $1 billion, in Beijing on Wednesday, the premier highlighted the need for businesses to boost their confidence, forge new growth drivers and strengths, facilitate overall improvement in economic performance and promote high-quality development.

The trip came one month after Li, at his first news conference as Chinese premier, encouraged private businesses to tap into the nation's supersized market as well as the potential of new sectors.

During a visit to GalaxySpace, a private satellite maker, Li, who is also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, learned about products being developed and different satellite models already deployed in space.

Noting that the development of the satellite internet industry is ongoing, he called on authorities to encourage companies to step up research and development of core technologies and components while pursuing world-class standards.

It is important to keep lowering the cost of production, scale up its application and promotion, and enable the coordinated development of relevant industries, he said.

During a visit to Beijing HyperStrong Technology Co, a leading provider of energy storage services, Li noted that such services play a key role in the energy revolution, adding that there is broad room for growth of the sector.

The premier underlined the importance of integrating the development of new energy and the energy storage sector, saying that more work must be done to enhance planning, guidance and policy support.

He encouraged businesses to keep advancing through technological progress, better adapt to the changes in the market and cater to the demands of users.

Li also visited Horizon Robotics, a company devoted to developing automotive-grade AI computing platforms for intelligent vehicles, and learned about the research and development of its chips.

He said the development of smart vehicles represents an important direction for the auto sector, as it integrates multiple functions and catered to many demands.

The premier stressed the need to accelerate the research and development and manufacturing of chips, stabilize industry and supply chains, develop more innovative products and technologies and work toward greater breakthroughs in the development of industries.

At a symposium with officials and business leaders, Li said that unicorn companies, with their high growth potential, represent the direction for economic transformation and upgrading.

The premier said the confidence and vitality displayed by the businesses enabled him to see the strong impetus for economic recovery and the prospects for high-quality growth.

Li called on governments at various levels to create a better environment and innovation climate for the growth of businesses and enable them to become bigger and stronger.