The challenge of relaunching growth has brought global business heads together with government, civil society and technology leaders at the Annual Meeting of the New Champions 2009.

"What a great platform the World Economic Forum is that you get everyone in one room and have a frank and honest debate and that is an inspiration for all of us," said Ben J. Verwaayen, Chief Executive Officer, Alcatel-Lucent, France; Mentor of the Annual Meeting of the New Champions, on the opening day of the Meeting.

The 1,300 leaders from 86 countries are focusing on future innovations to stimulate a recovery that is sustainable. To do this, the Meeting has brought together different groups that represent the future, including Young Global Leaders, Technology Pioneers, Young Scientists and heads of Global Growth Companies that represent fast-growing firms. They are working with CEOs of established global corporations, some of which are mentors to these emerging leaders.

"One thing I've always delighted in is seeing young people develop and advance, and true transformation is how young people are mentored in order to take on new jobs," said James J. Schiro, Group Chief Executive Officer and Chairman of the Group Management Board, Zurich Financial Services, Switzerland; Mentor of the Annual Meeting of the New Champions.

Klaus Kleinfeld, President and Chief Executive Officer, Alcoa, USA; Mentor of the Annual Meeting of the New Champions said: "One of the things I'm proud of, if I look back, is working with young talent and seeing them grow and that's why I'm here."

The Mentors said the people of China were playing a leading role in the recovery. "Traditionally, the US economy pulls the global economy out of crises like this. But with rising unemployment and stalled consumer spending, the Chinese economy is returning to growth fastest. China will accelerate its importance as a result of this crisis," Schiro said. Timothy P. Flynn, Chairman, KPMG International, USA and also a Mentor of the Annual Meeting of the New Champions, warned that the country will have to stimulate its consumer base to secure growth over the long term. He said it was an important time to learn from those around you. "This meeting is a chance to work with new champions and gain their insights," Flynn said.

The Annual Meeting of the New Champions 2009 ("Summer Davos" in Asia) is hosted in partnership with the government of the People's Republic of China represented by the National Development and Reform Commission (NDRC).

By Fon Mathuros, World Economic Forum