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Openness and innovation will dominate the agenda of this year's Fortune Global Forum in Guangzhou when top executives of the world's largest companies gather in the southern Chinese city, underscoring China's rising role as a strong advocate for globalization and innovation in the international trade arena.
It is the fifth time that Fortune magazine has picked a Chinese city to host its prestigious business forum since the event was created in 1995. It is not only a reflection of the continuous strong interest and attention from international CEOs in the Chinese market but also a manifestation of the country's growing influence in the global trade and economy.
Discussions at the forum, which last from Dec 6 to 8, will center on the theme "Openness and Innovation: Shaping the Global Economy" and global business leaders will share their views with their Chinese counterparts on topics including the latest trends in the technological revolution, the outlook for the world's economy, and how multinational companies should position themselves at a time when globalization is being challenged.
The theme of the Guangzhou forum also coincides with the key messages from the report delivered by General Secretary Xi Jinping at the 19th National Congress of the Communist Party of China held in October. The report stressed that openness and innovation are among the keys for China to achieve successful economic transition and sustainable growth.
Participants at the Guangzhou forum are expected to exchange their thoughts on the prospects of the world's second largest economy, the implications of China's rising middle class, rapid urbanization and expanding digital technologies, as well as how the country's Belt and Road Initiative will reshape global trade.
Economists and observers believe that pooling Chinese wisdom and practice on development with international experience will benefit future global development.
"The world is now faced with several critical issues including the lack of an inner driving force for growth and development and a rising anti-globalization sentiment at the moment," said Xu Hongcai, deputy chief economist at the China Center for International Economic Exchanges.
