Summer Davos: World Economic Forum comes to Tianjin! 9/13/2010

While exciting for many I am sure, I however, was not thrilled to learn that the world’s business heavyweights were ascending upon Tianjin this week.  Don’t get me wrong – Tianjin appreciates the attention and I am glad to see Tianjin continue to become a major financial hub in Asia.  What got me upset was that all my favorite hotels were all booked!  When I tried to make some reservations last week, I was surprised to see that the only room available at the Westin was the $15,000 USD per night presidential suite.  I waited a few hours to see if there was something wrong with the SPG website – upon my return even that room had been taken.

I had heard that an Asia “Summer Davos” event had been proposed in Tianjin, but I didn’t know that it had been scheduled.  To be honest, other than knowing that the World Economic Forum meets annually in Davos, Switzerland, the only thing I know about the event is that all the big wigs show up.  So, I decided to do some research and see what this one is really all about to see if it will impact foreign investment into china.

The Basics

Since 2007 the World Economic Forum has been holding the Annual Meetings of the New Champions.  The meetings, held every summer, alternate location between Dalian and Tianjin.  The conference primarily attracts Fortune 500 CEO’s, international political leaders and journalists.  You can get all the information you need at the World Economic Forum Website.

As you can imagine, the city has been preparing for weeks to welcome these leaders in the traditional Chinese fashion.  I heard that Premier Wen gave the opening speech, and have seen preparations prevalent throughout the city.  As Tianjin continues to attract this kind of global economic attention, it is sure to continue to fuel growth in the surrounding area – all of which is good for business as logistics infrastructure, transportation, accommodation, and foreign investment policies continue to improve.