TIANJIN, June 27 -- The 14th Annual Meeting of the New Champions, also known as the Summer Davos, opened on Tuesday in China's Tianjin, marking the resumption of the annual meeting in the country after a four-year hiatus.

More than 1,500 participants from businesses, governments, international organizations, and academia are gathering in the northern port city for the three-day event themed "Entrepreneurship: The Driving Force of the Global Economy."

In a keynote speech at the opening, Chinese Premier Li Qiang said that over the past decade, China has been an important source of impetus for the steady growth of the world economy.

China has served as an important anchor and impetus source for free trade and stable growth in the world, said Li.

"In the longer time to come, China will continue to provide strong dynamism to the world economic recovery and growth," he said.

China's GDP grew by 4.5 percent in the first quarter year on year and is expected to expand faster in the second quarter. The country is on track to hit the growth target of around 5 percent set for the year.

Li stressed that China wishes to work with entrepreneurs from different countries to support economic globalization, uphold the market economy, firmly support free trade, and steer the global economy toward a more inclusive, resilient, and sustainable future.

Currently, the world is experiencing the global challenges of slowing growth, debt risks, climate change, and a wealth gap.

In his speech at the opening, Klaus Schwab, executive chairman of the World Economic Forum, called for global efforts to fight fragmentation and strive for dialogue, understanding, and collaboration.

"We stand for a future where nations have to work together for the collective well-being for humanity," Schwab said.