New champions riding next wave of growth

Tianjin is exemplary of China's success story in the last decade. It is an innovative and modern city and a "New Champion" itself. That is why it was an obvious choice to host this year's meeting, said Professor Klaus Schwab, founder and executive chairman of the World Economic Forum.

On a broader level, the World Economic Forum also wishes to build on their 30 years of partnership with the Chinese government and industry, which has significantly contributed to the ongoing development and reform of China as well as to its integration into the global economy. Holding the Annual Meeting of the New Champions in Tianjin this year is also a reflection of that, he added.

"There are so many facets to China's new role in the world that come with its increasing political influence, economic strength and technological advancement that we decided to make this one of the key themes in the program," he said.