The development of China and Chinese enterprises will not threaten the world, rather it will generate opportunities for the development of other countries and enterprises, said Klaus Schwab, executive chairman and founder of the World Economic Forum (WEF) on March 18.

WEF is an independent international forum which is also referred to as the Davos meeting. The WEF is "an independent international organization committed to improving the state of the world by engaging leaders in partnerships to shape global, regional and industry agendas."

Asked why this year the WEF was being held in Dalian, China, Klaus Schwab said that China has become a country of great economic significance that the world is carefully watching. China is a rising star, but many of its companies are not yet well known. So this year the annual Davos meeting will be in China. China hopes that this event will not only extend the popularity of the city, but also have an important influence on the development of China and the world economy.

By People's Daily Online