The 2011 International Innovation and Low Carbon Development Forum and The Performance Theatre meeting opens in Beijing Thursday. [Photo / Chinadaily.com.cn]

Business and political heavyweights are discussing China's role in international innovation and low-carbon development at a meeting opened by Lord Browne of Madingley, Chairman of The Performance Theatre (TPT) and former CEO of BP, at the Great Hall of the People in Beijing Thursday.

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The two-day 2011 International Innovation and Low Carbon Development Forum and TPT meeting will provide a platform for business leaders, politicians and thinkers from China and beyond to discuss about how to maintain economic growth without destroying resources and the environment.

"We must find a new way of growing, a way that combines the transformational power of economic development with a concern for fairness, stability and the environment." said Lord Browne in his speech at the event.

He also said in the next five years China will account for as much as almost 30 percent of the world's economic growth, and the forum will focus on China's role in the new direction of development.

In the following sessions, heavyweights will discuss topics such as China's 12th Five Year Plan, innovation and low-carbon development.

The meeting is authorized by the Ministry of Science and Technology and co-hosted by the China Consulting Association, People’s Daily and China Economic Weekly.

Initiated in 2000, TPT, run by a non-profit organization, has been held in a range of different locations around the world – from London, Wolfsburg and Washington DC to Delhi, St Petersburg and Budapest. 2011 marks the first time the event is being held in China.