The World Economic Forum's Annual Meeting of the New Champions 2012, often referred to as Summer Davos in Asia, will focus on ‘Creating the Future Economy", highlighting the role that new and fast-emerging multinational companies play in enabling and driving sustainability in a global business landscape that has been fundamentally changed by the economic crisis, according to a press release by the World Economic Forum.

Under the working theme, ‘Creating the Future Economy', the Meeting will explore and address many sub-themes, such as rethinking traditional markets and existing value chains, reinventing institutions and industries through innovative models. The Meeting will also focus on rising to societal challenges through entrepreneurial solutions and recognizing the new frontiers of science of science and technology, according to the WEF's press release.

The World Economic Forum will also be holding private, peer-to-peer meetings designed to provide participants with cross-industry and multi-stakeholder perspectives on key emerging issues.

"The Annual Meeting of the New Champions is a Meeting of innovators and new vision-shapers. This year's Meeting will highlight how leaders of the world's established economies, together with tomorrow's industry champions, emerging multinationals and civil society stakeholders, can drive a global recovery," said Oliver Schwad, Executive Director, World Economic Forum China, at a press conference held in Beijing on Thursday.

Li Xuedong, Deputy Director-General, Department of Foreign Affairs, NDRC, said "We hope the World Economic Forum continues to strengthen its collaboration with Chinese constituents and so contribute to the understanding and exchange between China and the rest of the world."

"The Summer Davos has boosted the internationalization of Tianjin city, generating more attention from major multinational companies to the city and acting as a platform to make local Chinese companies develop close ties with more and more of the world's top 500 enterprises ," said Ren Xuefeng, vice mayor of Tianjin, during the press conference.

The Meeting will be attended by well over 2,000 participants from 86 countries and will take place in Tianjin from Sept. 11-13. The World Economic Forum announced Thursday that Premier Wen Jiabao will give a keynote address at its Annual Meeting of the New Champions.

The Summer Davos staged its first session in Dalian of China in 2007, and has been held three times in Tianjin.