After a three-year suspension due to the COVID-19 pandemic, the Summer Davos made its return. Officially known as the 14th Annual Meeting of the New Champions, the forum, hosted by the Switzerland-based World Economic Forum (WEF) in China, took place in Tianjin Municipality on June 27-29. Davos is the Swiss resort town where the WEF Annual Meeting takes place in winter.

In his opening ceremony address, Premier Li Qiang emphasized that China will continue to inject strong dynamism into global economic recovery and growth.

Themed Entrepreneurship: The Driving Force of the Global Economy, this year's meeting welcomed some 1,500 representatives from the business sectors, governments, international organizations and academia of more than 90 countries. They shared their opinions and suggestions as well as contributed their acumen on core subjects such as rewiring growth, China in the global context and deploying innovation.

Today's world is in the throes of unprecedented change. Global economic growth lacks momentum, the gap between North and South continues to widen and many countries are plagued by food and energy crises, altogether posing severe challenges to the global development process. Given the role of entrepreneurship in driving the world economy's stable growth, the offline gathering of businesspersons at the Summer Davos intended to bring the world greater certainty.

As the largest developing country, China has a consumer market of over 1.4 billion people. Nevertheless, its per-capita economic indicators and living standards are only modest, and its development remains unbalanced, with coastal regions and major urban agglomerations much better developed than inland and less urbanized counterparts.

But this is also exactly where China's development potential lies. China is introducing more practical measures to further tap into the potential of domestic demand, better coordinate urban-rural and regional development, accelerate the country's green transition and advance its opening up. China's commitment to such high-quality development will create new opportunities for cooperation and provide a consistent source of energy to the global economy.

The Summer Davos ended on a positive note, with participants largely agreeing that what the world needs now is more in-person exchanges, openness and inclusiveness to help steer the international economy toward a more sustainable future.