TIANJIN — Global investors are seeking new business opportunities in China, as the world's second-largest economy embarks on a path of innovation-driven development.

During the Summer Davos Forum late last month, heavyweight companies from home and abroad reached a consensus that China's commitment to innovation helps them thrive in an increasingly digitalized world.

It was quite a spectacle indeed. In the last week of June, thousands of C-suite executives, government officials and media members participated in the 14th Annual Meeting of the New Champions, also known as Summer Davos Forum, in Tianjin.

Over three days, they interacted, shared insights and collaborated. They highlighted emerging fields such as sustainability and green development, which will be central to future development and growth. All this is significant given that the world is entering the post-pandemic era amid a cloudy global outlook.

The 14th Annual Meeting of the New Champions, also known as the "Summer Davos", was recently held at the Meijiang Convention and Exhibition Center in Tianjin.

All of the 1 million kWh of electricity used during the event came from wind power generated in Xiliin Gol League of Inner Mongolia autonomous region over 600 kilometers away.

A couple of Chinese energy companies unveiled new business plans at the Summer Davos Forum — and experts promptly hailed them, saying they will drive sustainability and renewable energy adoption on a larger scale, besides bolstering the green transformation of the global energy sector.

Contemporary Amperex Technology Co Ltd, the world's largest electric vehicle battery maker, announced it is considering setting up multiple EV battery recycling stations with a European partner.

Greater effort is required to give full play to artificial intelligence and its responsible use, speakers at the 14th Annual Meeting of the New Champions, also known as the Summer Davos Forum, said in Tianjin.

The remarks came as the next-generation innovative technology leads a new round of industrial revolution and transforms how people live.

Speakers: Nation should focus on digital, sustainable development

China needs to steadily advance structural reforms to propel high-quality growth instead of simply rolling out massive stimulus measures, and the focus should be placed on boosting digital and green development, said speakers at the 14th Annual Meeting of the New Champions, also known as Summer Davos Forum, in Tianjin on Thursday.

Honeywell and Shenghong Petrochemical Group vow to further expand cooperation in the field of digitalization and automation to promote the efficient and sustainable development of the petrochemical industry with advanced technology.

The two parties signed a Memorandum of Understanding (MoU) during the 14th Annual Meeting of the New Champions of the World Economic Forum held in Tianjin on Wednesday, eyeing to promote high-quality development and digital transformation within the industry. The two companies also launched the Honeywell-Shenghong Smart Factory White Paper that provides data-driven strategies for the process industry on the same day.

Greater efforts are needed to promote technological innovation and increase capital input in research and development so as to accelerate the transformation and upgrading of traditional manufacturing industry, said Li Dongsheng, founder and chairman of consumer electronics maker TCL Technology Group Corp.

Noting that the high-tech manufacturing sector has become an important driver for China's economic growth, Li called for Chinese enterprises to continuously pool more resources into indigenous R&D, achieve breakthroughs in key technologies and enhance self-independent innovation capacities.

Chinese employees are bullish about the potential of artificial intelligence in their career and have attached great importance to digital skills, according to a new report released by global consultancy PwC at the Summer Davos Forum in Tianjin on Wednesday.

The report said 44 percent of the surveyed employees think that AI will help them increase their productivity and efficiency at work, while 68 percent deem that digital skills are important to their career.

BEIJING -- Accelerating global economic recovery necessitates stimulating business vitality in the world economy, driven by an entrepreneurial spirit that fuels innovation and advances social progress.

Themed "Entrepreneurship: The Driving Force of the Global Economy," the 14th Annual Meeting of the New Champions, also known as Summer Davos Forum, opened on Tuesday in China's Tianjin municipality.

TIANJIN -- With its enormous market scale and consistent efforts on advancing its green transition, China is expected to provide more attractive opportunities for global investors.

At the ongoing 14th Annual Meeting of the New Champions, also known as the Summer Davos, entrepreneurs are optimistic about China's green shift, which they expect to provide players from home and abroad with a broader platform and new opportunities.

Big gap exists in providing emerging economies with sustainable funds

China's international lending and the Belt and Road Initiative have contributed to the world's growth instead of creating "debt traps" for other countries, experts and officials attending the 14th Annual Meeting of the New Champions, also known as the Summer Davos Forum, said in Tianjin on Wednesday.

Contemporary Amperex Technology Co Ltd, the world's largest electric vehicle battery maker, is in discussion with a European partner regarding the establishment of multiple EV battery recycling stations across Europe.

"We are finding global partners. For example, in the recycling business, we are talking to a European partner. I cannot reveal who, but we are looking at setting up recycling sites, not just one, but (many) sites in Europe," CATL Chief Manufacturing Officer Ni Jun told China Daily on Wednesday, at the 14th Annual Meeting of the New Champions, also known as the Summer Davos Forum, in Tianjin.

Manufacturing is playing an increasingly important role in bolstering economic recovery in Asia, creating a wide range of jobs and ensuring the stability and prosperity of society, said speakers at the 14th Annual Meeting of the New Champions, also known as the Summer Davos Forum, in Tianjin on Wednesday.

Li Dongsheng, founder and chairman of consumer electronics maker TCL Technology Group Corp, said Asia's manufacturing sector covers several categories with complete industrial systems, and has gained an upper hand in terms of production capacity, efficiency and cost control.

Multinational companies in the transportation and logistics sectors are keen to deepen green collaboration with China and thus drive positive change in the energy-intensive sectors, said experts and business executives on Wednesday.

Michael Han, head of APM Terminals in China, a branch of Danish shipping and logistics services provider AP Moller-Maersk, said that in the decarbonization process of the shipping and port sectors, Chinese enterprises have already set an example for the global community, and the company has scaled up cooperation with Chinese companies to accelerate its green transformation.

Beefing up their presence in China will only move multinationals forward with stronger growth over the long term, despite rising uncertainties over decoupling and supply chain disruptions, said global business leaders and industry experts on the sidelines of the Summer Davos Forum in Tianjin.

They made the remarks as Premier Li Qiang said at the forum on Tuesday that China has full confidence and the ability to achieve steady economic growth and high-quality development for a long time to come.

The mayors of four Asian cities vowed recently to boost intercity collaboration and their international profile during a sideline event at the ongoing Summer Davos in Tianjin on Wednesday.

Liu Guiping, vice-mayor of Tianjin, said, "This year marks the 50th anniversary of sister city relations between Tianjin and Kobe in Japan, 30th anniversary of sister city relations between Tianjin and Incheon in South Korea and the 31st anniversary of that of Tianjin and Ulaanbaatar in Mongolia. We expect the sister city relations will benefit future multilateral relations."

Liu Young-way, chairman and CEO of Foxconn Technology Group, the world's largest electronics manufacturing contractor, denied that Apple Inc planned to move its supply chains out of Chinese mainland.

Liu made the remarks on the sidelines of the ongoing Summer Davos Forum in Tianjin on Wednesday. Foxconn, formally known as Hon Hai Precision Industry Co, is a key supplier of Apple. It has major production bases in Shenzhen, Guangdong province, and Zhengzhou, Henan province. 

Airbus China plans to expand its recruitment of new energy talents to support its green transformation and sustainable development, said the company's CEO George Xu on Wednesday.

"Talents that are the top of priority for us to seek include those that can contribute to the company's decarbonization transformation. We are hunting for people who have the expertise and connections in the green energy sector, to make the aviation industry more sustainable," Xu said at the ongoing 14th Annual Meeting of the New Champions, also known as the Summer Davos Forum, in Tianjin.

China has remained a major driving force for global growth and the country's strong economic recovery helps boost confidence in global economy, said Wu Chun, managing partner of Boston Consulting Group Greater China.

"Premier Li Qiang stressed the importance of making concerted efforts in resuming world economic growth through dialogue and cooperation. China has demonstrated its resolution to join hands with all stakeholders to tackle challenges and seek win-win outcomes, providing confidence and stability in an uncertain world," Wu said.