 Ladies and gentlemen, dear participants, distinguished guests, welcome to the eighth annual meeting of new champions here in Tianjing. You are all welcome, so please allow me to highlight our heads of state and heads of government who are here together with us. So welcome, President of Mali, President Keita, Prime Minister Helitoneg Schmidt, Prime Minister of Denmark, Prime Minister Alexander Wucic, Prime Minister of Serbia, and Prime Minister Edirama, Prime Minister of Albania, together with Deputy Prime Ministers, Ministers and State Secretaries, a warm welcome to all of you. Thank you very much that you attend at the annual meeting of new champions. Technological innovation is arguable, the strongest driver of change in a modern world. It redefines the pace and the profile of future growth, progress in such areas like biotechnology, nanotechnology, big data, data analytics, or energy, conventional or unconventional energy, present great opportunities to business and economy as well as to societies. So the challenge for all of us is to explore over the next days how innovation can create value. Value to the people we serve, value to the societies to which we belong, and value to the organizations we lead. And it's hard to imagine a more capable group than you to pose this challenge to. You are part of the new champions community because new champions, these are 240 global growth companies poised to become economic leader thanks to the growth due to the innovation. New champions, it is 30, more than 30 tech pioneers. And thanks to their disruptive innovations, we can hard work on growth and well-being for the people. New champions, these are more than 60 social entrepreneurs who drive social change through innovation. And last but not least, new champions means over 400 young global leader, young scientists and global shaper, the next generation of leaders in business, society, and academia. Along with our respected members and partners of the World Economic Forum, we are all together here now. And we again broke the record in terms of the participants. Over 1,000 business leaders from more than 90 countries are now here. And even the same number of participants out of greater China. So please enjoy our annual meeting of new champions, enjoy our innovations we brought up to you in our sessions for your appreciation. So ladies and gentlemen, I'm very proud to say now on behalf of the World Economic Forum, the annual meeting of new champions is now opened. Thank you very much. Excellencies, we are in China. That's not accidentally because China has long understood the importance of innovation for the well-being of their people. We are here in Tianjin, one of the most important hub for innovation, trade, and growth in China. So now it's my honor and my pleasure to hand over to the mayor of Tianjin and serve. Let me say thank you for your kind invitation and for your outstanding hospitality. Now the floor is yours, Mayor Huang of Tianjin. Distinguished guests, ladies and gentlemen, good afternoon. The Summer Diverse Forum 2014 has opened ceremoniously today. And new global champions are gathering here again in Tianjin. On behalf of Madame Sun Chun-Lan, Poly Bureau member of CPC Central Committee, Secretary of CPC Tianjin Municipal Government, and 15 million people of the city, I would like to express our warm congratulations on the opening of the forum and extend sincere welcome to all the honored guests and friends. It has been eight years since Summer Diverse Forum came to China. The forum has become an important platform for international community to exchange ideas and wisdom, build and enhance friendship and a mutual trust and promote exchanges and cooperation. With the in-depth convergence of the spirit of Tianjin and that of Davos, the hostess of Tianjin forges ahead together with new global champions, keeps abreast with economic development and has quickened the space of becoming a global city. Hereby I would like to thank particularly Professor Schwab and the Executive Board of the Forum for your trust, relevant ministries for your guidance and all the honored guests and friends for your kind attention to and support of Tianjin. At present, the world economy is undergoing a period of profound adjustment and its recovery remains elusive. A new round of technological revolution and the rise of the industrial revolution is conceived. Acceleration of comprehensive innovation with scientific and technological breakthrough at its core is both the sure route to extrication of the world economy from predicament and the fundamental guarantee to steady economic progress towards achieving long-term goals. The theme of this forum, creating value through innovation sets a very clear forward-looking orientation which conforms completely to the new expectation of global economic development. In my opinion, we should attach great importance to forward-driving forces in creating value through innovation. The first is the power of ideas. Thought precedes action. It is important to build and intensify the awareness of innovation by cultivating innovative thinking and a fostering innovation habit so that sparks of ideas can bring about fruitful result of innovation. The second is the power of rule and regulation. It is important to establish rule and standard according to international practice so as to protect intellectual property right, inspire creativity and create a more relaxed, easy, fair and equitable environment for innovation. And the third is the power of convergence. It is important to facilitate the penetration of different fields into one another namely science and technology, manufacturing industry, finance and many other sectors of society. It is also important to speed up the international free flow of talented people, technology, capital, information and other elements of information. As a result, there will emerge the innovation capability meeting the needs of value creation. The fourth is the power of entrepreneurs. Entrepreneurs are both organizers and the facilitators of innovation. They play a key role in innovation with their keen insight into market, brave entrepreneurship and unyielding tenacity. Tianjin is a new champion city full of vigor and vitality. In recent years, the pace of reform and opening up has constantly been quickened, ecological environment remarkably improved, people's income continuously increased, opening up oriented economic level further raised and progress of social undertakings achieved in an all round manner. For the past ten years, the city's GDP growth rate has been over 15% on the average annually. At present, we see the opportunity of the major national strategy for coordinated development of Beijing, Tianjin and Hebei province. We resolutely endeavour to achieve high goals by promoting industrial transformation in carrying out innovation-driven development. Distinguished guests, ladies and gentlemen, innovation is a broad road to great success and a spirit of the times. Let's brainstorm ideas, pool consensus, unlock the fountain of wisdom, master the forces of innovation, instill fresh vitality into world economy and jointly create a better future. Finally, I wish Summer Davos Forum 2014 a complete success and all the honoured guests and friends, a pleasant stay and fruitful work in Tianjin. Thank you all.