Chinese premier Wen Jiabao made an inspection tour to Qingdao, port city of east China's Shandong Province, on June 21.

Enterprises who wish to succeed in the acute competition have to create name-brand products, said Premier Wen Jiabao during a recent inspection in east China's Shandong province.

"Brands show quality, efficiency, competitiveness and vitality," Wen said after inspecting the well-known Qingdao Haier Group, Hisense Group and the Tsingtao Brewery Company.

Branding signifies enterprises' economic strength and market reputation, and the number of name brands a country possesses indicates the national economic strength and the overall quality of a nation, he said.

The future world competition will be for intellectual property rights, which takes the form of first-class technology and products, he said, acknowledging that prominent Chinese enterprises should be encouraged to create world top-class name brands.

Economic growth hinges on a good social environment, he said, underlining the importance of building up a society of honesty and faithfulness as well as a rule-by-law government.

China's economic macro-regulation has taken effect and the national economy is growing steadily and rapidly, Wen added.

The macro-regulation measures should be further implemented so as to inspire those industries and enterprises with good market prospects, high profit rate and advanced technology level, he said, noting that those low-level industries and enterprises consuming much energy and bringing serious pollution should be restrained or even eliminated.