Summer Davos forum opens in China

The Annual Meeting of the New Champions 2014, also known as the Summer Davos forum, opened Wednesday in north China's port city of Tianjin.

This year's forum again focused on innovation as the theme was set at "Creating Value Through Innovation" with more than 1,600 business leaders, experts from across the globe to discuss issues ranging from China's economic outlook, shifts in finance and energy, the Internet and infrastructure.

Chinese Premier Li Keqiang will deliver a keynote speech at the opening ceremony.