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BEIJING, May 30 (Xinhua) -- Chinese Premier Li Keqiang has promised more freedom and financial support for the science and technology (S&T) sector as China seeks to boost development through innovation and establish itself as a world leader in this regard.

BEIJING, May 30, 2016 (Xinhua) -- Chinese Premier Li Keqiang addresses an event conflating the national conference on science and technology, the biennial conference of the country's two top think tanks, the Chinese Academy of Sciences and Chinese Academy of Engineering, and the national congress of the China Association for Science and Technology, in Beijing, capital of China, May 30, 2016. (Xinhua/Pang Xinglei)

Li made the remarks at a national conference on S&T innovation Monday afternoon.

In his morning address at the conference, President Xi Jinping said that China should be one of the most innovative nations by 2020; a leading innovator by 2030; before finally establishing itself as a world-leading S&T power by the centenary anniversary of the founding of the People's Republic of China in 2049.

Li said innovation is crucial to supply-side structural reform and will boost China's competitiveness. He called for innovation "in every field and stage of economic and social development."

The premier called for stable, long-term financial assistance as well as support for S&T institutes, universities, enterprises and social groups in setting up laboratories and S&T centers that facilitate research.

Stressing the role of applied research, Li encouraged S&T entities to pursue market-oriented projects that benefit new industries and foster new growth sectors.

According to Li, more will be done to slash red tape and improve the government's functions so that institutes and universities are granted more autonomy.

"We should free S&T specialists from restrictions and give them space to explore," Li said, adding that those affiliated with successful innovation projects should be amply rewarded.

Li also urged an improved academic assessment system and better intellectual property rights protection as this will create a sound S&T environment where "toil, knowledge, talent and creation are respected."

The afternoon meeting was presided over by Liu Yunshan, a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee.