 Ladies and gentlemen, good morning. My name is Adrian Monk from the World Economic Forum. It's my great pleasure to welcome you here this morning and also to welcome five of our co-chairs for this annual meeting of the new champions. I'm just going to introduce them briefly. I'm joined by Francis Collins, director of the National Institute of Health from the USA and also member of the Forum's Global Agenda Council on the Future of the Health Sector. By Chung Wei, the founder, chairman of the board and CEO of Didi Kuidee from the People's Republic of China. By Ken Hu, deputy chairman and rotating CEO of Huawei Technologies. Also a member of our Global Agenda Council on the Future of Digital Communication. And by Chung Wei, sorry, by... I'm just looking down the panel on my list, unable quite to see to the end. And by Li Rui Gang, founding chairman of CMC Capital Partners and CMC Holdings Limited. And lastly by Carlos Moedas, the commissioner for research, science and innovation at the European Commission in Brussels. We're going to hear from each of our co-chairs about their thoughts and expectations from this meeting. And then we'll move in, we'll have a little time for questions. And just a reminder, if we could keep questions directed to the theme of the meeting and if you could also identify yourself and your news organization when you introduce yourself. So I'm going to begin by asking Carlos to share some of his thoughts ahead of this meeting. Carlos. Thank you very much. Thank you very much, first of all, for all of you and for being here. You know, this annual meeting really takes place at the aftermath of a huge economic crisis in Europe. And very difficult years were actually in the past for many countries in the European continent. And so what you saw was a crisis of private debt that was followed by a crisis of sovereign debt. And at the same time, you look and you have other crises coming up. You have today, as we speak, a new crisis on emerging in Europe about migrants. Just to give you a rough number, since the beginning of the year, we had more than 400,000 refugees that have applied for asylum in the EU. And today we are at a tipping point. I mean, today President Juncker will actually announce measures of unprecedented scale on this matter. But if I look at the past, what I see is that in China and in Europe, you see that the contribution for growth of innovation has actually not been increasing. And that's probably the big part of the problem. Innovation is defined in economic terms as the multi-factor productivity. And you see that that multi-factor productivity has actually contributed to growth as not being increasing it properly. So we have to look at the future and think, what do we have to do? What's the only way? What's the model to increase that productivity? And the model is about really innovation, science and research. And if I look at the future, I look at it with hope because I see a new generation, a new generation of young scientists, of young innovators, of young researchers that are actually doing that. And are doing that in a very different way and in a very different world that we have to adapt. Because science in the digital world is very different from science in the physical world. Because areas like health, like energy, like food, like water will be so different from the past. And so it's actually that tipping point that we are at and that I'm very hopeful. I'm very positive about the future. You know, when you look at innovators in the past 100 years, you see that they all have three characteristics. Actually, there's a book by Walter Isaacson called The Innovators where he describes it very well. They all have collaboration skills. They have diversity from different areas, from different fields, from different cultural backgrounds. And they really bring together different types of science with arts and humanities. And when I look at the new champions, which is actually what we are talking about here today, the new champions of today, the new companies of today, they actually bring that together. Diversity, collaboration, and science and humanities coming together at an intersection that creates innovation in science. So thank you very much and I'm really looking forward to these three days here in Davos, actually in the World Economic Forum in Dalian, I'm sorry, and looking forward for the questions that you might have. Thank you very much. No problem. Carlos is often known as Summer Davos, so we can see the confusion. You're okay. So did he quite ease at the forefront of some of the sharing economy innovation that's going on here in China? I'm just going to ask Chun Wei to explain some of his hopes and thoughts ahead of this meeting. Good. Thank you. Thank you. I'm the founder and the CEO of DDQID. I'm very glad to be here, the Summer Davos. Our job is to facilitate the transportation and our job is the same as Davos wants to change the world. So I'm very glad to be here as one of the co-chairs to participate deeply in this World Economic Forum. In the last three years of our starting up, it's the year where applied internet technologies to the taxi services and with the smartphone-based shared economy as well as sharing the cost and the shared bus couple different models of the transportation. I think internet is shaping the way that we move. In the last three years, about 200 million and 8 million taxi drivers are contributing to our platform. So our goal is zero wait time for your sedan service, chauffeur service, and a happy road. So now we have the third anniversary as well as the opening of this annual meeting. So we changed our name from the DD Dacha to the DD Chu Xin, which means DD Facility Movement. We have been appreciated by the capital market. We recently closed another round of financing about 3 billion US dollars. So we are working out something valuable. So in the last three years, in spite of the ups and downs and winter and summers, we have been persistent to our core value, which we have a firm belief in. And we participated in these annual meetings. I just attended the robot show and a kind of development of the artificial intelligence as robot technologies. And we are trying to forecast the impact on the future. So we hope we can have an open mind, open eyes, and I firmly appreciate this diversified discussion cherished by this diverse world economic forum. I hope all of you have a good experience here. Thank you. One of the technology companies that's making an impact on a global level is Huawei. Ken Hu, can I ask you to share some of your thoughts and expectations for this meeting and how technology is going to be helping to address some of the global challenges we're looking at here in Dalian? Thank you, Edwin. And good morning, everyone. It's my pleasure to be here for this press conference. And I'm very much honored to culture this year's summer hours in Dalian. And this year's theme is charting a new cause for the growth. And as a technology provider, because we are the largest ICT company in China and one of the leading companies in the world. We're very excited about the tremendous opportunity presented in a digital age. If we look ahead, we expect that the ICT technology, for example, the mobile band, cloud computing and big data and internet options will fundamentally change the way we live and work. Commissioner Carlos just mentioned that, you know, how big the change will be made by the digital technology. And Mr. Cheng just mentioned that, you know, how now life will be changed by the emerging technology and also the business model by the DD quite sure. So we anticipate that our world is becoming more and more connected. People and people, people and sins and sins and sins. From our anticipation, there will be a hundred billion connections by the year of 2025. That means we're going to increase the connection globally for at least ten times from now on. And then we're going to expect that all the countries and economies will continue their investment in the ICT infrastructure, broadband, optical transmission network and different applications to meet the faster growing demand of the digital age. So I do believe that the ICT will play a significant role to drive the growth of global economy and this will create tremendous opportunities for all of us. And this is my nice time to participate the summer dollars in China in the fifth time in Dalian. Here I'm very happy to see that there are lots of new elements related to the technology across the whole forum. In the corridor you're going to see a lot of, you know, the realization of the laws of 3D and artificial intelligence. And there are a lot of sessions that this year, in these years acknowledging the ICT potential to transform the economy and the societies. So I will just mention a few of them. For example, the digitizing international trade shows how digital technology is changing the global supply chain and the patterns of the consumption. And the China's digital disruptors look at the innovative companies like the DDQC that have transformed the way of relief and work in China. And also the session of connecting the unconnected, which I'm honored to participate tomorrow, will focus on the measures we're going to take for the unconnected populations globally. This will remind us that while we are enjoying the latest technology, while we are pursuing a faster network, there are still 4 billion populations globally without any access to the Internet. They also remind us that as part of the mission of the World Economic Forum, which is to change the state of the world, we should pay extra effort to deal with this challenge and to avoid deepening the new digital divide. So I will welcome all of you to join that discussion for this very important topic. So finally, I look forward to a fruitful discussion and debate in the next couple of days. And I wish the conference a great success. Thank you very much. Thank you very much. One of the biggest things technology is changing is health outcomes and also besides digital technology, biotechnology and genetic research is making a huge impact and it's part of the discussion that we're having here at the Forum and it's great to be able to welcome Francis Collins as a co-chair, directs the National Institutes of Health in the USA. Francis, can you tell us a little bit more about what you're hoping to achieve here? Sure, thanks, Adrienne. It is a great privilege to be one of the co-chairs for the summer Davos here in Dalyan. The theme, of course, is charting a new course for growth. So how does health play a role there? I think everybody recognizes that as GDP increases, health of a population tends to increase. That's the famous Preston curve from back in 1975. What people may don't realize quite as broadly but as well documented, that improving the health of a population also adds to economic growth. People who are healthy have higher productivity. Children who are healthy are more likely to learn and develop cognitive skills. People who have an expectation of longevity are more likely to save. All of those things play out in a virtuous circle between advances in health and economic growth. Not to mention, of course, that research in health is a major source of economic growth because the science and technology, which in this era where life science has really become such a dominant force in terms of science and technology, has been well documented to give a return on investment that is multi-fold. The Genome Project, for instance, recently assessed what its economic value was from the roughly $4 billion the U.S. put into the Genome Project estimates now that it is close to a trillion dollars in economic return just in the U.S. as a result of having done that. There are now unprecedented opportunities in health research. Some of them are, in fact, built on genomics, the idea of precision medicine, stem cell biology, the opportunity to figure out how to take cells from an individual and convince them to become almost any other kind of cell for diagnostic, for therapeutic purposes, neuroscience, the effort that we now are engaged in quite seriously as an international collaboration to understand how those 86 billion neurons between your ears do what they do and what that might mean for understanding Alzheimer's disease or autism or schizophrenia. All of those are really exciting initiatives and the discoveries that are happening in biomedical research are breathtaking, but many of us are still concerned that the lag time is too long between when you have learned something about human biology and human medicine and when it actually can get implemented across the country, across the world, in the valley of death, where things sometimes get stuck instead of being translated into clinical benefit. But I think there's reason to point to other developments that may help us in this regard. Participants in research are increasingly interested, not in being passive, but being an active participant. And likewise, people in general don't think of their health care as something that somebody else does for them. They want to be part of it. That's a good thing. That means you have empowered patients who want the information, who are well informed. The ability to use cell phone technology with a wide variety of very exciting wearable sensors now coming into a reality to monitor the body's performance, whether it is measuring blood pressure in an ambulatory way, or measuring blood glucose in somebody with diabetes in a continuous fashion to optimize their treatment. Those are enormous advances if we can implement them effectively. And the opportunity now in increasing numbers to have medical records in electronic form also opens up all sorts of possibilities to speed up the process of moving discoveries into translation into the real world. So I'm delighted that this topic of health is a major focus of this meeting here in Dalyan, and that many of the new champions that I'm looking forward to talking with in the course of the next couple of days is doing research in that area. Obviously we have a lot to do to make this vision come true about how health can advance across the world. Economies be they big or small. But the principles are very compelling and the science has never been more exciting than it is right now. Thank you very much. And lastly, one of the most visible areas where we're seeing technology make an impact is in media and entertainment. And certainly one person who has firsthand experience about how that impact is being felt is Lee Regang, founding chairman of CMC Capital Partners and CMC Holdings. Mr. Lee, can I ask you to share some thoughts on the media landscape as it's changing with technology? Sure. Thank you, Arjun. It's my great honor to be one of the chairs sitting here to attend this year's forum. Compared with Miss Hu, I didn't come here to open. So this is my second time to be Dalian to attend this event. And I'm also very glad to see on the list there are so many peer companies and their business heads coming to Dalian to present in different panels and workshops tomorrow and the day after tomorrow. So I'm sure this year this would be a productive platform for all the great minds to exchange and to explore. I come from the media side, the media or the media entertainment circle. So currently, not only in China, all the world including the rest of the world, the whole media landscape is being changed dramatically. The theme is the fundamental infrastructure of the whole media entertainment industry. It's going to be a big big transformation. All the these new contents, new platforms, new devices, new models are emerging. So I think right now the situation is this is a very critical moment for all the media operators to think about their future. The future will be changed and what you are familiar with in the past cannot fit into the future. So I'm very glad to see a lot of topics. In tomorrow's panels we're talking about those new trends and I will also be involved in some of those discussions and hopefully those discussions could be very productive, constructive. And personally I think right now I'm also doing media investments besides the operation, also media investments. So looking for the opportunities in this side and continue to be passionate and keep moving is also very important for myself and for all of us. So wish this forum a big success. Thank you. Thank you very much. Thanks to all our panelists. Just to look at the room, can I get a sense from people's hands? So please put your hand in the air if you would like to ask a question. We have about 10 minutes for questions then I can get a sense of how many questions we need to field. If I can ask if you have a question just raise your hand. What a very shy audience we have in the media today, this morning. So I'm going to start with the two ladies at the front. So please can we get a microphone to you and can you just tell us where you're from and also can you make sure your question is aimed at the whole panel. Thank you. Okay. Thank you. Thank you. I want to ask who is the investor and what kind of business are you going to use that three billion investment and you also finish a 1.4 billion investment and what do you think of the competition of that? Okay. The sort of question I was saying would be brilliant to answer, probably individually. Can I just take the question from Lady there? I'm from the financing first and I would like to ask Mr. Chen Wei another question. Just now you mentioned you changed the way people travel. It's changed by DD and also it's actually a challenge for the traditional way for people to travel by using taxi. So when we talk about the shared economy and the existing economy, how do you integrate the traditional existing one with the new ones? Yeah, please. Thank you. No problem. If we only use the so-called existing supply of transportation, we can never solve the people's problem of traveling. We are talking about the tidal moment, meaning the rush hour in the morning and during the afternoon. We have to solve that problem. So we would like to integrate the existing resources without adding more supply to it, meaning to improve the efficiency of the existing resources. Traffic is kind of resources like other resources and during the faster human development we have to break that bottleneck. The key point for that is to share. It's not like everybody holds that resources. We have to use the existing resources to the maximum. And in the future, not everybody needs to buy a car. Maybe you buy a car, you spend only 5% of the lifetime of that car to use it. So we would like to provide less car, more efficiency. And in the past few days during the parade, traffic limit and management, it seems that we do not suffer from the traffic jam. And then those drivers use, for example, the shared platform for DD and QID. There are more than 10 million time-person users to use our services. So this is actually the change we experienced for the transportation and traveling perspective. During the past three years, with the connection of internet and the taxi industry, we have fundamental changes. But the last three years is only the starting point. And we will integrate the more transportation vehicles together into that platform to meet the needs of the general public. We believe that with the limited resources of roads and taxes, we need to have these integrated resources. For example, we have the taxi, we have the quite sure chauffeur driving, carpool. So we need a more flexible way to solve the problem, to have an internet-based or science-based solutions to solve people's problem of traveling. So we also believe that it can improve the city's efficiency. For that three billion US dollars investment, many investors, including some Chinese companies like Ping An, they participate in the first rounds of the investment. So we believe traveling is not simply the problem of traveling. It's actually the knot which could connect other companies and industries together. We work together to solve this problem. Thank you. Hi, I'm from the Economist. And I have two questions. Mr. Hu, you mentioned connecting and being connected and also the sharing of the global economy. So we would like to talk about the capacity cooperation at the international level. What does that mean to the global economy, economic development? Could you comment on that? Second question goes to Mr. Cheng. You mentioned that, but the DD Kui Che, mainly you focus on your business. I would like to ask DD Kui Che's innovative solutions for traveling and for such kind of innovation, what are the role played by these innovative industries towards the China development and world development? Thank you. Thank you. Thank you for your question. Talking about the background of globalization, the international capacity cooperation at the international level is a global issue. Globalization for an enterprise means opportunities for that enterprise to integrate this market. And in this market at global level, we could actually integrate those people and the staff and resources and capacity to make it more efficient. So globalization providers actually great opportunities for all the industries, manufacturers, IT industries, great opportunities for further cooperation because we have a bigger space for cooperation, bigger platform for the market expansion and also in a bigger scale to efficiently allocate our resources and to improve the enterprise's efficiency. And we could also build a global chain of your value. Then you could have a stabilized declines. So this global chain of the value could provide your customer more value too. Thank you. As for innovation, during our development, we have two observations. Number one, innovation is something we have to do. It's a must. There is a problem there, but there is no existing solutions. So you have to think of a solution independently to solve that problem. And then we equalize innovation to independent thinking, meaning there is a thing there. You have to think or a problem there. You have to think of a creative way to solve that problem. And then you could find that creative solutions. For example, the earlier stage of DD Dat Cheo, how can we encourage taxi drivers to use Internet and how could we encourage the customer to use Internet to call taxes? So, internationally, we didn't really integrate taxi driving or taxi using into this technological development. And also later, for example, we developed the WeChat Pay. And these are all in an innovative way to make it more convenient and faster. So these are actually what we get when we confront with the problem. Secondly, innovation also needs the corporate culture and the corporate policy to guarantee to make it lively. And, for example, you encourage your staff to think independently and creatively. So I believe that for the summer doubles, I heard different voice. So diversity is important. Cross-industry communication is also very important. These are the origin and source of new ideas. So I'm very happy to see that with this Internet and other Chinese industries, because of the fears competition, we feel that we have more collision and integration. So we have a lot of the new problem. For example, oh, to all industries, sometimes they are actually first appeared in China, then in the world, in the other parts of the world. So we do not think that China is backward. Rather, China is more advanced in some of the need a more open environment of cultivating the independent thinking and the innovative thinking. These are the momentum for future development. Thank you. Analysts, you'll be able to see all of them in sessions throughout the meeting. And if you have more questions for each of them, I'm sure they'll be delighted to take them up one to one. I'm going to release them now, because I know their schedules are very busy, thanks to all of you. And we have another press conference with our remaining co-chairs at 1.30. So I look forward to seeing you back there for that. Thank you. Thanks very much. Thank you.