The World Economic Forum’s 14th Annual Meeting of the New Champions, also called Summer Davos, kicked off in Tianjin on June 27.
More than 1,500 global leaders and innovators from politics, business, academia, and advocacy are attending this year’s forum on “Entrepreneurship: The Driving Force of the Global Economy”. Under this theme, the three-day meeting is set to cover six discussion pillars: rewiring growth; China in the global context; energy transition and materials; post-pandemic consumers; safeguarding nature and climate; and deploying innovation.
Chen Liming, chairman of the World Economic Forum Greater China, describes entrepreneurs as “creators of social wealth” and hopes that this year’s event will help stimulate entrepreneurial spirit in Asia and the rest of the world. Prominent Chinese businesspeople in attendance include Ant Group Chairman and CEO Eric Jing, IBM Greater China Chairman and General Manager Chen Xudong, Huawei Deputy Chairman Ken Hu, and Airbus China Limited CEO George Xu.
Summer Davos, which is alternately held in the northern Chinese cities Tianjin and Dalian, focuses on “Global Growth Companies” from fast-growing economies like China, India, Brazil, and Russia. This year marks the first time attendees have met face-to-face at the forum since 2019.
As per the forum’s tradition, Premier Li Qiang, second in command to Xi Jinping, delivered a plenary address on June 27. The speech was closely followed by the business world amid continuous reports of China’s uneven economic recovery. Contrary to these concerns, Li asserted that China is expecting quicker growth in the second quarter (compared to 4.5% in the first) and is on track to meet its 5% target for the year.
Li went on to admit the country has not achieved “balanced development”, but promised rich future opportunities; “We have full confidence in the ability to push China’s economy toward high-quality development…This would include a continuous expansion of the market, enhanced cooperation, and creating opportunities for the recovery of the world economy and chances for investors from all countries.”