Schwab: China has key role in world cooperation

China will play a key role shaping a new framework for global cooperation, maintaining open markets, facilitating globalization and improving international integration of governments, business and civil society.

China has a leading role in the global transformation towards new development models, characterized by technological innovation and based on intangible and digital assets, Klaus Schwab, founder and executive chairman of the World Economic Forum, said in a speech at Nankai University in Tianjin on Tuesday.

The world's development depends on a global system and more globalization is needed, although it is in a difficult phase because of the possible trade war. Some countries are against globalization, but we have to support a more globalized community for cooperation, he added.

Video by Hu Yumeng