This year's World Economic Forum's Summer Davos in Tianjin from Sept 10 to 12 is focusing on the effects of technological transformation on business and society, according to Xinhuanet.com on Sept 5.

Emphasizing the social impact of advanced technologies such as nanotechnology, artificial intelligence and neuroscience, the global gathering is holding about 140 sessions under the theme of "Creating Value Through Innovation".

During the event, elites from around the world are exchanging ideas on hot topics such as China and emerging markets, innovation and industry, creativity and culture in an effort to explore better ways to tend technology for the well-being of mankind.

"This year the meeting features more in experiential learning and creative thinking," said Olivier Schwab, executive director of the World Economic Forum China.

He added that "participants can share the scientists and entrepreneurs’ ideas on major challenges confronted by all the countries, as well as to experience the latest technologies at the meeting".

The World Economic Forum is a Geneva-based nonprofit organization dedicated to engaging political, business, academic and other leaders in collaborative efforts to shape global, regional and industry agendas.

In addition to the annual winter meeting in Davos, Switzerland, it also organizes a ‘Summer Davos’ in China each year.

Since the first Summer Davos meeting, also known as the 'Annual Meeting of the New Champions' in 2007, Chinese port cities Dalian and Tianjin have taken turns in hosting the event.

The Annual Meeting of the New Champions is a global gathering to push forward the development of technology and innovation and entrepreneurial spirit.