Innovation is needed to generate high-income jobs. China is not yet an innovation powerhouse, but Klaus Schwab, founder and executive chairman of the World Economic Forum, believe it can be.
China supports science, technology and innovation to play the crucial roles in underpinning Chinese industrial upgrade and long-term economic growth.
The 2014 Summer Davos Forum is being held in Tianjin. It is the fourth time Tianjin has hosted the event, and the city hopes to once again leverage economic opportunities from it.
Against the backdrop of a "surprisingly weak" global economy in the first half of 2014, economists in Tianjin struck a relatively upbeat note on China.
A TV journalist reports at the conference hall of 2014 New Leaders Meeting of the World Economic Forum in Meijiang Convention and Exhibition Center in Tianjin, North China, Sept 9, 2014.
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