World Economic Forum's 'Summer Davos' in China focuses on Asia's economy

The 17th Annual Meeting of New Champions 2026 in Dalian, China, saw 1,800+ leaders discuss Asian economies and China's outlook. Premier Li Qiang urged harnessing tech for good, with a focus on AI, EVs, and bridging innovation gaps.

The 17th Annual Meeting of the New Champions 2026 in Dalian, China, brought together leaders from over 90 countries and regions, including 90 government leaders, 1,000 senior business executives and 200 leaders of unicorns and Technology Pioneers. The high-level gathering focused on the trends shaping Asian economies and China's economic outlook, as well as the critical role of entrepreneurship, the energy transition and digital transformation in building more sustainable economic systems.

According to a news release from the World Economic Forum, the meeting, known as "Summer Davos," welcomed Chinese Premier Li Qiang alongside six heads of government. Over 1,800 global leaders from business, government, civil society, international organisations, and academia addressed the urgency of value creation. The deliberations focused on five key questions regarding global prosperity, China's economic trajectory, technology utilisation, job creation for the next generation, and the alignment of energy and climate systems.

Chinese Premier on Technological Advancement

Chinese Premier Li Qiang emphasised the global responsibility of technological advancements during his address. "We should harness technology for good. Innovation drives humanity's quest for a better life," Li Qiang said. "Advanced technologies should serve as tools that benefit people across countries, rather than sources of chaos that undermine peace and stability. Technology progress should always reflect humanity's common values and advance global peace and development."

Asia's Growth and the Innovation Gap

The Forum highlighted that Asia is projected to deliver over half of global GDP growth in 2026, with China expected to account for over a quarter of global real GDP growth. Discussions noted that China's economic trajectory will be fueled by artificial intelligence, electric vehicles, and renewable energy. However, the dialogue also shifted toward the widening gap between technological potential and real-world economic outcomes, as productivity growth across most economies remains sluggish.

Alois Zwinggi, President and CEO of the World Economic Forum, noted that the next phase of innovation must bridge this gap. "The next phase of innovation is about closing the gap between technological potential and real-world economic impact, to translate breakthroughs into tangible progress for industry and people," Zwinggi said. "Innovating at scale requires partnership across a range of sectors, including government, business, and academia. The meeting in Dalian focused on practical solutions that deliver growth for all."

Workforce Transitions and AI's Impact

Workforce transitions also formed a core theme, with an estimated 40 per cent of global employment exposed to artificial intelligence. Leaders explored how emerging technologies can accelerate industrial growth without leading to jobless growth, emphasising that long-term economic expansion relies heavily on steady investments in education and skills.

Saadia Zahidi, Managing Forum Director, pointed out that the true value of innovation lies in its social impact. "Innovation truly boosts economies once it reaches people and improves their lives, work, income and health. The next billion jobs will be created by the economies that invest as much in education, skills and entrepreneurship as in technology itself," Zahidi said. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)