Premier Li Keqiang said on Wednesday that China will adopt stricter measures for protection of intellectual property rights.

Li made his comment in a speech at the annual meeting of New Champions in Tianjin, also known as Summer Davos.

Intellectual property rights will be strongly protected to stimulate innovation, Li said. Without an environment that respects knowledge and protects property rights, China cannot achieve innovation-driven development, he said.

China has a complete legal system for intellectual property rights protection, he said. Since joining the World Trade Organization, the payments made by Chinese companies for using intellectual property rights increased by 14 times, Li said. Stricter measures will be taken to punish violators and provide fortified backing for innovations, he added.