Creating new supply and meeting new demand with high-quality products demonstrate the vigor and future of the new economy, Premier Li Keqiang said during a visit to Funeng, a technology company in Ganzhou, Jiangxi province, on Aug 22.

The private company occupies major foreign and domestic markets through its technologies in lithium-ion batteries for new energy vehicles.

The company uses high-quality domestic equipment, which costs only one-sixth the price of imported equipment, in its production lines.

Upon learning this, the Premier said that huge potential in industrial and manufacturing investment should be exploited to promote upgrading equipment made in China.