Editor's note: Imran Khalid, a special commentator for CGTN, is a freelance columnist on international affairs in Pakistan. The article reflects the author's opinions and not necessarily the views of CGTN.

Amidst a flurry of diplomatic occurrences, the illustrious 14th Annual Meeting of the New Champions (AMNC), also known as Summer Davos, has grabbed the world's attention. In a harmonious convergence, more than 1,500 elites from business, government, civil society, international organizations and academia, have joined this hallowed gathering which is themed "Entrepreneurship: The Driving Force of the Global Economy."

Their collective presence is a testament to the profound significance of this global convocation. Chinese Premier Li Qiang, who delivered the key note, very effectively conveyed that China is an open, inclusive and honest large country that is not only devoted to its own development but also shares its opportunities with other countries proactively.

The 2023 Summer Davos forum pulsates with a renewed vigor, fixating its gaze on igniting a blaze of innovation and entrepreneurship, both within Asia and on a global scale. A profound aspiration unifies the participants: to traverse the pathways that lead to economic revitalization, crafting innovative industry models and forging fruitful partnerships that shall propel the world economy towards a future steeped in equity, sustainability, and resilience.

Throughout the diverse array of sessions, an overwhelming chorus of accolades resonates, as participants effusively laud the remarkable resurgence witnessed in the Chinese economy during the initial five months of this year.

Against a backdrop of mounting recession risks and the unsettling clamor advocating for "decoupling" and "de-risking," the current year's forum, spanning three days, has served as a platform for participants to delve into China's commendable economic prowess and its steadfast commitment to high-standard opening-up.

Beyond this, the event stands as a resounding testament to China's indispensable role as a formidable engine driving global recovery and growth, firmly anchoring economic stability and upholding the principles of globalization. As the world grapples with uncertainties, China emerges as an undeniable linchpin, possessing the second-largest economy worldwide and forging significant trade partnerships across the globe.

Forecasts by the International Monetary Fund in May project that China will contribute a substantial 34.9 percent to global growth in the year 2023, a testament to its immense influence on the global stage. At a crucial time where Western growth is seriously faltering, the Asia-Pacific region as a whole takes on a leading role, projected to drive approximately 70 percent of international economic growth.

Contrary to skeptics' claims of a weakening economy, China's three major economic indicators have exhibited sturdy growth, with a notable 3.5 percent year-on-year increase in industrial output and a robust 12.7 percent year-on-year expansion in social retail sales during May. Such steadfastness defies naysayers and showcases China's resilience, embodying its vast potential. This confidence is further bolstered by the resurgence of consumption during the Dragon Boat Festival, which serves as a compelling testament to China's unwavering trajectory towards prosperity.

With each passing milestone, China reaffirms its position as a global economic powerhouse, a beacon of stability, resilience, and promise in a complex and ever-evolving world.

The on-going sessions of the Summer Davos exemplify an imperative focus on the pressing matters that dominate the global agenda, such as the escalating global debt, the crucial pursuit of financial stability, and the imperative of climate action, take center stage. The discussions and deliberations surrounding these subjects bear systemic relevance not only for Asia but also for the wider world.

Moreover, the forum serves as a hub for exploring the transformative power of cutting-edge technologies that have the capacity to reshape our very existence. The spotlight shines upon pioneering innovations, including generative artificial intelligence, plant sensors, care technology, batteries, and electric vehicles. These breakthroughs possess a profound potential to usher in a new era, bestowing upon us the tools to navigate an ever-changing world.

A remarkable hallmark of this gathering lies in the launch and advancement of over 25 initiatives at the AMNC. These initiatives, acting as dynamic platforms, foster an environment of sustained collaboration. Through this collaborative spirit, participants forge enduring partnerships and chart a course towards progress, with a steadfast commitment to addressing the challenges of our time.

The Summer Davos stands as a testament to the indispensable role of collective action and the transformative power of global dialogue. As the curtains rise on this gathering of great minds, the world witnesses the birth of new ideas and the consolidation of existing partnerships, with a shared vision of navigating the future and building a more prosperous and harmonious world.

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