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BEIJING, July 17 (Xinhua) -- China will further strengthen the protection of intellectual property rights as part of effort in effectively protecting the lawful rights and interests of all types of market actors, fostering a more enabling business environment, boosting technological innovation, and deepening international cooperation, the State Council's executive meeting chaired by Premier Li Keqiang decided on Wednesday.

In the new legal framework for foreign investment that is to take effect on Jan. 1 next year, China will introduce a punitive compensation mechanism for intellectual property (IP) infringement cases and make the relevant civil and criminal laws more stringent to deliver better IP protection, Xi said.

Xi's entourage, including Ding Xuexiang, member of the Political Bureau of the Communist Party of China (CPC) Central Committee, member of the Secretariat of the CPC Central Committee, and director of the General Office of the CPC Central Committee; Yang Jiechi, member of the Political Bureau of the CPC Central Committee and director of the Office of the Foreign Affairs Commission of the CPC Central Committee; State Councilor and Foreign Minister Wang Yi; and He Lifeng, vice chairman of the National Committee of the Chinese People's Political Consultative Conference and head of the National Development and Reform Commission, also returned to Beijing on the same plane.

The high-tech equipment production, though starting late, expanded fast as well, the report said.

Efforts should be made to ensure the accomplishment of the annual goal of tax and fee cuts of nearly 2 trillion yuan (about 291 billion U.S. dollars), and improve the transmission mechanism of monetary policy to reduce financing costs for small and micro firms, Li added.