Path to the future: Insights from Tianjin Summer Davos

Under the azure sky in Tianjin, the modern architecture of the National Convention and Exhibition Center stands as a symbol of innovation and progress. It is where the 2025 Summer Davos Forum was held on June 24-25.

While over 1,500 participants at the forum focused on entrepreneurship and innovation, the international landscape presents a stark contrast. The dark clouds of international tensions and trade disputes gathering on the horizon remain impossible to ignore. Reeling from the shockwaves of steep tariffs imposed by the U.S. in April, the world braces for more turbulence as the 90-day pause expires on July 8. The rise of trade protectionism and intensifying geopolitical tensions has injected huge uncertainty into the global economy.

The 2025 Summer Davos Forum, themed "Entrepreneurship for a New Era," brought together participants from government, business, academia, international organizations, and top innovators to discuss how to navigate this tumultuous world. For China, open collaboration and innovation are the answer to the challenges.

Openness: A strategic choice and a stabilizer for global growth

Open economies are prosperous economies. When countries open markets and promote trade and investment liberalization, they create more opportunities for economic growth, innovation, and job creation. China's commitment to openness is a strategic choice that drives its own development and contributes to global economic stability.

Tianjin, known as China's "capital of humor," also stands at the forefront of China's expanding opening-up strategy. For instance, it is home to Boeing's first joint-venture company in China and Airbus's first production base and A320 assembly line outside Europe.

In fact, opening-up measures have been rolled out one after another in China, among which was the "Special Administrative Measures (Negative List) for the Access of Foreign Investment (2024)". It has removed all restrictions on foreign investment in the manufacturing sector. This policy offers foreign-funded enterprises national treatment, which in turn has attracted more multinational companies to invest in China. Additionally, the Chinese continue to streamline procedures of government services for businesses across the full business life cycle, from establishment to exit.

The impact of these measures is evident. China's openness is making waves in the business world. Renault Group has upped its stake in Dongfeng Renault to 75 percent. McDonald's and Starbucks are also expanding in China. Surveys show that a significant number of multinational corporations are bringing their supply chains to China or expanding their businesses here, indicating great confidence in China's business environment.

Innovation: Core engine for development and new opportunities for global cooperation

The shift from "Made in China" to "Created in China" is accelerating, reshaping the nation's industrial landscape and creating new opportunities for the world.

In the first quarter of 2025, BYD jumped to first place in the global electric vehicle market. Its 15 percent market share pushed Tesla, with 12 percent, into second place. This shows how BYD's hard work in technological innovation and product development has made it more competitive in the global market. Similarly, Huawei has made great progress in chip technology despite U.S. restrictions. It has also launched the world's first tri-folding phone and introduced Harmony OS, which is now the world's third-largest mobile operating system. Additionally, Unitree Technology is advancing quickly in the robotics field. These companies have not only made significant strides in the global technology sector，but also given consumers around the world more and better choices.

Technology is empowering the lives of millions. 90 percent of Chinese villages are covered by a 5G network, and the country is fast-forwarding into a cashless society through e-payment. Foreign YouTubers are sharing their experiences in China, from balancing coins on high-speed trains and riding in a driverless taxi to having food delivered by drones. These innovations are gaining traction in China.

As the rise of unilateralism and protectionism poses a significant threat to the stability and prosperity of the global economy, the just-concluded Summer Davos Forum sent a clear signal of innovation and openness to the world. It has served as a catalyst for forward-looking dialogues that foster entrepreneurial thinking and drive innovative solutions to unlock new sources of growth.

In an era fraught with tariffs, conflicts, and uncertainty, this forum has showed that openness and innovation provides a viable approach to navigate through these complex times and shape a more collaborative and inclusive global future.

(The author is a Beijing-based observer of international affairs.)