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The 2024 Summer Davos Forum will be held in Dalian, China from June 25 to 27

Release time：2024-06-19 20:59:35 Source：World Economic Forum

The Summer Davos Forum, established in 2007, is held annually in China, alternating between the cities of Dalian and Tianjin. It serves as a counterpart to the WEF’s annual winter meeting in Davos, Switzerland. The forum focuses on innovation, science and technology, and emerging global economic trends. The 2024 Summer Davos Forum, scheduled to take place from June 25 to June 27 in Dalian, Liaoning Province, is set to gather over 1,600 distinguished representatives from politics, business, academia, and media worldwide. The event promises to be a convergence of wisdom and innovation, with attendees poised to explore "The New Frontiers of Future Growth" and contribute valuable insights toward sustainable global economic development.

Key Highlights of the 2024 Forum

This year marks the 75th anniversary of the founding of the People's Republic of China and a crucial year for the "14th Five-Year Plan." The first half of the year has already seen successful high-level diplomatic activities such as the China Development Forum and the China-Arab States Cooperation Forum. The second half promises more major events, including the Shanghai World Artificial Intelligence Conference, the China-Africa Cooperation Forum, and the World Economic Forum. These events play a pivotal role in China's economic diplomacy and global influence.

The forum will feature over 100 sub-forum activities, including significant sessions co-hosted by the NDRC and the World Economic Forum, such as "Outlook on the Future of Sustainable Development in Belt and Road Cities" and "Focusing on China's New Quality Productivity." Additionally, events like "Dalian Night" will provide cultural and social highlights outside the formal sessions.

Mr. Liming Chen, Chairman of the Greater China region of the World Economic Forum, stressed the forum's focus on Asia and its commitment to promoting cooperation and innovation. As a global growth engine, Asia, with China as the largest contributor, offers a unique opportunity to explore future growth potential and inject sustainable development momentum into the world economy.

Global Economic Context

As of mid-2024, the global economy has shown remarkable resilience despite previous warnings of stagflation and recession. The IMF projects global economic growth to remain steady at 3.2% in 2024 and 2025, maintaining the same rate as in 2023. Inflation is predicted to decline, with the median level of overall inflation expected to drop from 2.8% at the end of 2024 to 2.4% at the end of 2025.

United States: The U.S. economy is performing robustly, with growth rates forecasted at 2.7% in 2024 and 1.9% in 2025. This strong performance is a significant driver of global economic growth.

Eurozone: Growth in the eurozone remains subdued, with projections of 0.8% in 2024 and 1.5% in 2025, reflecting ongoing challenges such as high inflation and energy crises.

China: The IMF maintains its forecast for China’s economic growth at 4.6% in 2024 and 4.1% in 2025, highlighting the need for strong measures to address real estate sector downturns and stimulate domestic demand.

Emerging Markets: Countries like India and Russia are expected to perform well, with India’s growth forecast at 6.8% in 2024 and Russia’s at 3.2%.

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