The 12th Annual Meeting of the New Champions, also known as Summer Davos in Asia, was held in North China's Tianjin from Sept 18 to 20.

Themed as "Shaping Innovative Societies in the Fourth Industrial Revolution", this year's forum attracted nearly 2,000 business leaders, policymakers and experts from over 80 countries.

Let's take a look at what leaders said at the economic gala.

Klaus Schwab, founder and executive chairman of the World Economic Forum

China will play a key role shaping a new framework for global cooperation, maintaining open markets, facilitating globalization and improving international integration of governments, business and civil society.

China has a leading role in the global transformation towards new development models characterized by technological innovation and based on intangible and digital assets, said Klaus Schwab, founder and executive chairman of the World Economic Forum, in a speech at Nankai University in Tianjin on Tuesday.

The world's development depends on a global system and more globalization is needed, although it is in a difficult phase because of the possible trade war. Some countries are against globalization but we have to support a more globalized community for cooperation, he added.