 We created the first energy policy research institute in the country, bringing practitioners together with academics to solve policy problems and help policymakers. And Columbia University has created the first climate school in the country, not just a center, not just an institute, but on the scale of a school. So now we have Columbia Medical School, Law School, Business School, and the Columbia Climate School, the first of its kind. I could say much more about it, but the basic idea was, this is such an interdisciplinary problem. If you want solutions to, say, get energy storage to scale, we need engineers figuring out how to improve battery chemistry, law professors figuring out how we're going to improve the permitting process so we can build at the scale that we need to. International Affairs Specialists thinking about the geopolitical tensions that might emerge if, again, most of the refining and processing is done in countries, say, here in China. We need all of them to work together in collaborative teams to solve problems. That's not something academia has particularly been good at in the past, and so that's what we're working on, as well as, of course, training the next generation of leaders. We need a lot more people coming into the energy space and the policy space and the finance space who understand climate and our sustainability challenges. Thank you. Ms. Keogin, if I could move to you for your kind of final reflections. So we talked about the Chinese economy. Now it is the second largest economy in the world. We have all these shared challenges, climate change, mounting public or sovereign debt, all kinds of fragilities. We saw the Premier visiting in Europe, being part of the climate finance summit there. So what could we expect? Because it's such a key role that China is playing in the global economy. So what would you expect or what could we expect in terms of further developments on some of those shared challenges, particularly climate? Globalization has had its challenges at least four cycles of protectionism in history, where globalization ultimately prevailed. And I think coming from the UK, the Brexit, scarring effects of Brexit and lingering effects, worse than the worst case scenario that economists predicted, it's a sobering reminder how much the global platform still matters. And it's not just about trade and technology, but it's also about finance and financial integration. So eventually, as the global debt explodes, as we're going to potentially see another wave of global financial crisis, I just do not see how the world can come out of it peacefully without the two leading economies, central banks and governments working together to providing being the global anchor and providing for financial stability and of course on climate as well. And lastly, the trillions of dollars at stake from economic disengagement. How much can we do with trillions of dollars? A lot eradicate malaria for one and end world hunger for another. So let's keep the spirit going. Fully agree, thank you. And you will close us off, Mr. Prasad. Speaking of financial systems and financial flows, so obviously this is the engine of our life together, our world economy and has been, you've been writing a lot about the future of money and financial flows and the financial architecture that we can expect. And so I would just be curious because we, of course now these days, particularly in the spring, people tend to look at the fragilities and all that, but how do you see it? Because there is a lot of also optimists who would say, well, this is the next era of financial inclusion. This is the next era of cross-border financial flows. So are you more optimistic or are we also getting ourselves into more risks with kind of the more digital financial architecture that we're going to see soon emerging or seeing emerging? That very nicely epitomizes the spirit I've sensed at this conference, hope and anxiety. But I want to end in a positive note, so I'll start with the anxiety. Anxiety about geopolitical, geo-economic fragmentation, about low growth in many economies, but the hope, the hope comes from the new technologies which I think can lead us on a much better path. These are new technologies we've talked about in the context of finance more broadly. And entrepreneurs I think are really going to be crucial to link to the theme of this session because they need to shape these technologies in ways that benefit all of us and ultimately make sure that they lead us to a better place and financial flows likewise I think are going to benefit from many of these technologies that are reducing frictions in international payments. So so long as we marshal our resources properly, have the right guidelines in place, I'm hopeful that technology can lead us to a much better future. Thank you so much. I like it, more hope, less anxiety. That's a good prescription for life overall. Thank you so much. Thank you really for spending the time and helping us get a glimpse of some of the key outcomes insights and what's next for all of us. I'd like you to stay seated please because we will be followed closely by then the closing of this summit with the president of the World Economic Forum and the mayors of Dalian and Jiangjin and then we'll also have a artistic performance here as well that will close us off. So thank you so much. Please stay seated. We will continue momentarily. Dear participants, friends and colleagues, on behalf of the managing board of the World Economic Forum and myself, a big thank you to all of you. Let me also take this opportunity to thank our host city, city of Tianjin and the NDRC for their support and cooperation over the last five months. That has been a prerequisite for such a successful and impactful meeting. I'm also very thankful and grateful to our co-chairs who support also helped to make this meeting a great success, but also to provide valuable inputs in the lead up to the meeting. This is the 14th annual meeting of the new champions, also called the summer that was and marks the World Economic Forum's first in-person meeting in China since 2019, four years ago, four years during which much has happened and we have been missing the summit a lot and it's like really great to be together again in person. Really great. I hope you feel the same. As China and Asia reopen and their economies return to the world stage, we too have returned, as I mentioned, to hosting what's known as our meeting for the new champions, summer doubles. And this is really a fast-growing region, Asia century and even if the world economy is a bit sluggish, 2.8% economic growth this year. China we expect doing 5.4, China is with these numbers 36% of the global growth and incredibly 70% of the global growth is coming from Asia Pacific. So the world is relying on the great growth engine Asia Pacific. And I think this also has been at the core of the discussions here. We have had 1500 participants and we have had representatives from 90 different countries including our 800 business leaders, 130 governmental leaders and more than 70 media leaders. As global headwinds do persist, it's more crucial than ever to engage with one another in open exchange of viewpoints, ideas and experiences. These exchanges help to strengthen cooperation. It also helps to spur entrepreneurship and innovation, which despite all our global challenges show no signs of slowing. We have to build trust. That's the basis for prosperity moving forward. No zero sum solutions, but only win-win solutions. Also as Premier Lee said in his address yesterday or the day before, this meeting is a gathering for the future. In that spirit and to reemphasize the new champions nature of the meeting, we also brought together over 100 global innovators. In fact, entrepreneurship and innovation are often born out of difficult times, while also providing us with the solutions we need to overcome those difficulties. That is why the theme of the annual meeting of the new champions entrepreneurship, the driving force of the global economy is so relevant. To that end, we have discussed much over the past three days, generated insights and recommitted to strengthening partnerships. At the forum, we strongly believe that our meetings are solutions and impact-focused. Over the past three days, we had the opportunity to launch and advance 25 initiatives. So we have been walking the talk. We haven't just been discussing, we also seen tangible results coming. I can of course then list all the 25 initiatives. I will not do because then I think we would have to add a half an hour extra, but I can give you some small examples, some snippets. We yesterday launched the last edition of the energy transition index, which has benchmarked the progress of countries energy transition, underlining that there is no development without access to energy. To further strengthen cooperation on the climate agenda, tree-leading clusters in China, France and the US will join the forum's transitioning industrial clusters toward net zero. This was further complemented by the launch of the Global Commission on Nature Positive Cities. And similarly, on the nature agenda, the forum welcome pledges to protect and restore forests in China through our 1T.org, the 1 trillion trees agenda. So many more trees, additional ones will be planted following our meetings. The meeting also saw the launch of top 10 emerging technologies of 2023 report and where we are anticipating exponential technologies, how to use them and assess their likely impact. This year, the report looks at the acceleration of global connectivity and the rise of AI, which also ties in with the work of our recently launched AI governance alliance. Last but not least, what was also at the heart of the meeting and the discussion was the need to move out of a low growth environment to greater economic collaboration. We know that trade is growing quite anemic globally. This year we expect around 1.7. At the peak of trade, we used to grow 6, 7% a year globally. And that was the growth engine of global growth. So we have to get back to that situation. So it was also critical discussions on this topic here during the meeting and compliments also to China for also having supported Dr. Angosi at the WTO and also supporting then abolishing subsidies through fisheries that we hopefully can then see as good result outcome of MC-13 happening in the UA next year. So as we move forward into the months ahead, I hope that these exchanges will inspire us all to take action towards shared ambitions. It is only through the spirit of innovation and collaboration that has carried us throughout this past week that we collectively can meet the demands of the future. So I would again, looking at the audience and seeing many familiar faces that have contributed so much, I think we can congratulate ourselves and Tianjin, China, Asia with excellent summer doubles. It is now my pleasure to welcome Mayor Shang and thank you Mayor for your leadership in preparations of this meeting. And I invite you to the lectern to offer your reflections on the meeting during the last three days. Mr. Mayor. Distinguished President Brandt, distinguished Mayor Chen Xiaowang, esteemed guest, ladies and gentlemen, good morning. Thanks to your unwavering support and our collective endeavor, the 14th Summer Doubles Forum has successfully concluded all its scheduled session. Premier Li Tian graced the event with his presence and addressed their opening plenary, sharing his profound understanding of the global economic landscape. He expressed the firm determination to continue communication, seek solidarity and cooperation, keep opening up and sharing, maintain peace and stability and convene the strong confidence that China's economy is moving steadily and far ahead on the track of high-quality development and picture the vision of joining hands to drive the global economy towards a more inclusive, resilient and sustainable future. As a pioneer platform for dialogue on the economic global economy, the forum has brought up a more in-depth consensus about entrepreneurs from all over the world to roll a bigger boat by joining all hands and link to China with the world even further. We have explored a new paradigm of inclusive and sustainable economic growth aiming at reviving the world's economic prosperity. We have shared a monumental event that ignites a whirlwind of ideas through meaningful conversations centered around the theme of entrepreneurship, the driving force of the global economy. More than 1,500 esteemed guests from home abroad have discussed and exchanged ideas on the topics of joining efforts to cope with global challenges, driving recovery in the growth and China's economic pace. The founder wisdom and inspirational insight have provided valuable contributions to fostering a re-boost and sustainable global economy. The Davos Forum's significance has been flawlessly exemplified, elevating it to new heights. We have shared the momentous occasion that ignites development through collective agreement. The guests have developed into pathways for economic recovery focusing on pressing topics such as innovation and driving development and the Forum foster of wide-range consensus of ideas, concepts and approach generating a powerful impetus and invigorating growth for the global economy. And this is also a monumental gathering that cultivates profound friendship through communication, just like delicious soup is made by combining different ingredients. We connect on a deeper level because we share common beliefs and our mutual trust strengths and as we align our ideas. Both old and new friends have fortified our partnerships and passed towards the mutual benefit and a future of mutual success has expanded significantly. Ladies and gentlemen, the Davos Forum has been first-hand witness to China's journey of opening up and development and China's idea and accomplishment injecting vibrant colors into the essence of Davos Forum. The profound host of the event, Tianjin, has reshaped significant benefit by listening to voices from all over the world and once again showcasing the city's vitality and the grace of the time of the world. And we genuinely aspire to collaborate with all of you and guided by the wisdom of Davos Forum, we aim to further seek mutual benefit and win-win landscape. And as the bid fell well, I want to express my heartfelt thanks once again to Professor Klaus Rapp, President Brand and the Executive Board of the World Economic Forum. I would like to extend my thanks to our esteemed guests for sharing their valuable insights and also to the Chinese Ministry and the Commissions for their support. May our friendship endure and may the spirit of Davos Forum continue to thrive and we eagerly anticipate even more exhilarating Davos Forum in Dalian in 2024 and we hope to have a pleasure of meeting you again in Tianjin. Thank you very much. Thank you very much, Mary Shang, for your warm words and also again for your leadership and also for all the people that have supported us here in Tianjin. In line with our long-standing tradition, I'm now pleased to announce that the 15th Annual Meeting of the New Champions Summer Davos will return to Dalian in 2024. We are also joined here by Mayor Chen of Dalian and I would like to welcome Mayor Chen to deliver his remarks and really welcoming us for next summer to Dalian. Mayor. Respected President Brandy, respected Mayor Zhang Gong, distinguished guest, ladies and gentlemen, good morning. The 14th Summer Davos Forum is joined to a close and this forum has been a grand gathering of collective wisdom and leading development. It is also an economic summit that fosters consensus and promotes cooperation and a profound dialogue that deepens friendship and enhance mutual trust. The outcomes have been remarkable and the future holds great promise. It will undoubtedly play a positive role in driving the global economic recovery and on behalf of the Dalian municipal government, I will warmly congratulate the success of conclusion of the forum. Recently, Dalian City is advancing rapidly towards the high quality development guided by the direction set by President Xi Jinping. We are striving to become a vanguard city in the revitalization of the northeast China in the new era through the initiative of the two pioneer areas and the three centers. The pioneer areas for industry structure optimization and the pioneer area for economic and social development and the North Asia International Shipping Center, International Logistics Center, Regional Financial Center. And next year, the 15th Summer Davos Forum will be held in Dalian. We will humbly learn from the valuable experience of Tianjin in successfully holding the Summer Davos and once again present a distinctive and splendid truthiest to the world. We sincerely invite all distinguished guests together in Dalian once again next year to come together for a meeting that we all deeply cherish and to seek ways together for a prosperous future. Let's meet each again in Dalian in 2024. Thank you very much. Thank you so much, Mayor Chen. I'm already really looking forward to be in Dalian next year. This officially closes our meeting here in Tianjin. I would again like to thank the Mayor and all the people of Tianjin for being such great hosts also for the successful meeting. I would also use the opportunity to thank everyone else that have contributed, the participants, but also my colleagues at the World Economic Forum that has worked really hard to make this meeting happen. So I do ask you to keep seated because we will now have an amazing closing concert that also adds some culture at the end of the meeting. So again, thank you all very much for having contributed to such a successful in-person 14th annual meeting of new champions. Thank you very much.