Premier Li urges Shanghai to further improve business environment

BEIJING - Chinese Premier Li Keqiang has called on Shanghai to further improve the business environment and reduce institutional transaction costs in its efforts to expand reform and opening up.

Li made the remarks during a two-day inspection to the municipality that ended Wednesday.

Li made his first stop at Shanghai pilot free trade zone, where he called on the local government to firmly promote reforms and opening up to accumulate more fresh experiences.

Promotion of high-quality growth entails a good business environment, Li said, urging Shanghai to increase efforts in this regard and reduce institutional costs to invigorate the market and make local people's life easier.

At foreign medicine firm Roche, Li pointed out that expanding opening up can both benefit economic growth and people's livelihood, citing that China has huge market demand for cancer drugs.

Li said China will introduce multiple steps to increase supply of cancer drugs and reduce the cost for patients, and hoped that medicine producers can lower their prices to boost sales and benefit patients.

Visiting Shanghai Zhenhua Port Machinery Company Limited, Li encouraged the global leading port equipment maker to combine high-quality manufacturing and service to gain stronger global competitiveness.

Li also visited a local hospital and an innovation incubator, where he called on them to further leverage the power of the internet to expand medical services to remote areas and facilitate economic transition.