Premier Li Qiang stressed on Monday the importance of multiple parties making coordinated efforts to address the bottlenecks in applying scientific and technological advances to promote the country's innovation and development.

Li made the remarks when presiding over a study session held by the State Council, China's Cabinet, on the theme of further reforming the mechanisms for applying scientific and technological advances.

Scientific and technological innovation bears immense value, but it can only be transformed into real productive forces when applied to industry, he said.

Referring to the market application of advances as "the last crucial hurdle" for linking the innovation chain with the industrial chain, Li called for efforts to streamline the channels to achieve greater outcomes in the transformation of sci-tech achievements, in order to better promote the integrated development of technological innovation and industrial innovation.

The premier said that work should be focused on addressing the blockages and interruptions in applying scientific and technological advances. This involves improving the evaluation systems and mechanisms related to technological research and development as well as industrial development, and reinforcing the principal role of enterprises in innovation, he said.

Li said that capable enterprises should be encouraged to lead or participate in national technological innovation projects and to collaborate with universities and scientific research institutes.

They can jointly identify the sci-tech challenges facing the industrial frontiers and conduct collaborative research, thus facilitating the continuous iteration and upgrading of independently developed technologies and products in large-scale applications, Li said.

He also urged the improvement of supportive policies and market services for creating an efficient, coordinated and dynamic system for the application of the advances.

Efforts should be made to encourage financial institutions to provide diversified financing channels, and to establish a number of public service platforms to offer services to both the supply and demand sides of scientific and technological achievements, Li added.

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