'Summer Davos' set to discuss economic goals

It is the ninth Annual Meeting of the New Champions, or the "Summer Davos", to be held inChina. More than 1,700 participants from 90 countries will attend the meeting from Sept 9 to11, including government leaders, business executives and global organization chiefs. The stock market turmoil and the yuan's depreciation have triggered concern amonginternational investors of a deepened slowdown in the world's second-largest economy, according to Chinadaily. The theme of this year's meeting is "Charting a new course for growth". The gathering willfocus on six issues: transformational science, industry disruption, economic uncertainty,China's "new normal", environmental boundaries and "being human". Liang Linchong, deputy director of the Department of International Cooperation at theNational Development and Reform Commission, said at a news conference on Wednesday, "This theme reflects the common concern of international society about reinvigoratingeconomic growth. "In attending the forum, the Chinese government wants to convey a message to the world thatChina's general economic fundamentals remain healthy. "The government will adhere to its market-oriented economic reform, put more effort intoinnovation to drive development, and continue to uphold the policy for opening-up, win-wincooperation and mutual benefit." The meeting agenda includes the yuan's internationalization and exchange rate reform, thenew-energy strategy, the "Internet-plus" plan - aimed at connecting the Internet to traditionalsectors such as agriculture, finance, manufacturing and logistics - and internationalcollaboration on industrial capacity. These issues have been stressed by the government as key elements to stabilize growthamid the slowdown. David Aikman, chief representative official in China and managing director of the WorldEconomic Forum, said, "While the national strategies and economic fundamentals are sound,in the short term we can expect continued volatility because an incredible transformation ishappening in China's shift from an investment-driven to service-oriented model. "These transformations are always accompanied by volatility and uncertainty, but thecountry's growth prospects are still incredible." Northeastern China, where Dalian is located, has seen the slowest economic growth to datethis year compared with other provinces and cities nationwide, as its development modelrelies greatly on heavy industries and traditional manufacturing businesses with overcapacity. Lu Lin, the city's deputy mayor, said that during the meeting the city will sign cooperationagreements with Top 500 global companies to promote industrial upgrading and to importhigh technology. China has hosted the Annual Meeting of the New Champions since 2007. This year is the fifthtime that Dalian will have staged the event.