BEIJING- Chinese Vice-Premier Li Keqiang has stressed the advancement of innovation and technology to fuel internal demand during a visit to north China's port city of Tianjin.

Li made the remark during a two-day visit that concluded on Friday.

Li visited the Tianjin Institute of Industrial Biotechnology under the Chinese Academy of Sciences, as well as assembly lines belonging to Asia Power Systems (Tianjin) Ltd, which is owned by the US-based Caterpillar Inc, and Tianjin Lishen Battery Joint-Stock Co, Ltd., all of which are located in Tianjin's Binhai New District.

Li said innovation is of vital importance in boosting economic development, especially in the face of a complex global environment and increased external uncertainties.

China should further implement its strategy of expanding domestic demand and accelerate its pace of development through innovation, Li said.

Li also urged efforts to create a more favorable environment for middle-, small- and micro-sized enterprises by creating a technical innovation fund and encouraging venture capital investment.

During his visit to Asia Power Systems (Tianjin) Ltd, Li said China should study the technologies and management techniques used by other countries in order to boost the quality and technical level of its industries.

During an inspection of a low-rent housing project, Li called for increased efforts to ensure the quality of low-rent housing. He also stated that local authorities should adhere to government tightening measures that have been implemented to cool down the country's property market.