Chinese President Xi Jinping (2nd R, front) visits the National Graphene Institute at the University of Manchester in Manchester, Britain, Oct. 23, 2015.[Photo/Xinhua]

China has been catching up with developed countries by focusing on research, leading the world in the number of specialists involved, he said. Its spending on research and development is the world's second highest, and applications for international patents are third highest.

"Chinese manufacturing is upgrading, and we have gained a competitive edge in leading technologies such as high-speed railways and UHV power transmission," Li said.

"However, we realize that we still have much to learn from developed countries, such as Britain, the birthplace of the industrial revolution," he added.

China and the UK both faced structural contradictions, he added, and achieving sustainable development through reform and innovation will not only benefit both countries, but also be of tremendous global significance.

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