Tianjin reaps economic benefits from hosting Summer Davos

APD NEWS

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By hosting the World Economic Forum’s (WEF) "Summer Davos" five times over the past decade, Tianjin, a city in northern China, has strengthened its presence on the global stage and created opportunities for local enterprises.

The busy Tianjin port reported a handling capacity of over 150 million containers. Tianjin Port Group was listed as a member of the WEF’s Community of Global Growth Companies in 2007, and has become an active participant in both Winter and Summer forums since then.

Tianjin Port.

Chen Tao, Director of the General Office at the Tianjin Port Group said the company’s participation has helped drive its growth and form the basis for its future.

“It brought us a global vision and inspiration for the reform and development of Tianjin Port. Through those forums, we have been able to take the pulse of the global economy, the shipping sector and trade. It's very helpful in guiding us in planning the layout of the port and extension of our businesses.”

In 2007, the WEF established the Annual Meeting of the New Champions, better known as Summer Davos. The meeting is held annually in China, alternating between the cities of Dalian and Tianjin.

David Aikman, China Chief Representative Officer at the World Economic Forum told CGTN that the forum has helped to stimulate a lot of international interest in the host cities.

“Every time I go back to Dalian or Tianjin, it takes me a day or two to orient myself with all the changes and construction, and development. And also what’s been great is to see some of the local companies started out as little giants or SMEs, become globally significant. It’s been great to see these companies benefit from their globalization and international activities.”

Tewoo is among the local companies which have enhanced its international profile over the years. Gao Yuke, Vice General Manager of Tewoo said with the help of the forum, the Fortune 500 company is now transforming itself into a more globalized, innovative and cooperative business.

“Through the platform of Davos, we built ties with many Fortune 500 companies including Louis Dreyfus. With cooperation with those companies, we now have 3 subsidiaries in the US and we also have branches in Europe, Africa and Asia. Our global network has been improved, and the cooperation with world-class companies has been greatly enhanced.”

Tianjin is down to host the next Annual Meeting of the New Champions this summer. The local organizers hope it came inject more vigor into the city's economy and give it even more global appeal.

(CGTN)