The venue for the 2014 Tianjin Summer Davos Forum is under preparation. [Photo/China Daily]

Now approaching its eighth year, Tianjin will be hosting the 2014 Summer Davos Forum, also known as the Eighth Annual Meeting of the New Champions, from Sept 12 to Sept 14. Chinese Premier Li Keqiang will inaugurate the forum and deliver the opening speech.

The three-day forum, with the theme of "Creating Value Through Innovation", aims to address the challenge of how innovation can create new jobs and accelerate economic growth.

The program, which will have about 140 sessions, emphasizes experiential learning and creative thought with demonstrations of latest technologies.

"Technological advances present challenges and opportunities as they are radically transforming businesses, industries and economies. The Annual Meeting of New Champions will allow business and government leaders to understand these transformations, and how innovation can generate value for society as a whole," Olivier Schwab, executive director of World Economic Forum China, said at a press conference in Beijing on Thursday.

The global business gathering has attracted registrations of over 1,600 participants from 90 countries, including heads of states such as prime ministers of Denmark and Albania, president of the Republic of Mali, and other government officials, top business leaders, scientists and social entrepreneurs. Overall, foreign guests account for about 80 percent of the total attendees, according to World Economic Forum.

Li Xuedong, deputy director-general of International Cooperation Department at the National Development and Reform Commission, said China is committed to promoting strong, sustainable and balanced growth of the world economy by working with nations to strengthen policy coordination, address key challenges and open up new opportunities for development.

In addition, Cui Jindu, executive vice mayor of Tianjin said: "Tianjin is committed to ensuring the meeting to be productive and impactful. We will take this opportunity to show ourselves as an open, inclusive and confident city to distinguished guests from around the world."

Since the first Summer Davos meeting in 2007, Chinese port cities Dalian and Tianjin have taken turns hosting the event.

The World Economic Forum, a Geneva-based nonprofit organization, is dedicated to engaging political, business, academic and other leaders in collaborative efforts to shape global, regional and industry agendas. In addition to the annual winter meeting in Davos, Switzerland, it also organizes the summer Davos in China each year.