[Photo provided to chinadaily.com.cn]

Summer Davos was held in Tianjian, China from June 26 to 28.

Xu Jinghong, chairman of Tsinghua Holdings Co Ltd, was invited to an informal meeting with Premier Li Keqiang and domestic and foreign entrepreneurs, and to a forum held by Caijing Magazine themed on China's New Business Context.

Xu said the relationship between the government and market is one of the core issues of economic system reform. The decisive role of the market in resource distribution is essential to the future development of China's economy. 

Xu noted that while Chinese entrepreneurs are smart and creative, they still need two environments -- a fair and transparent market, and a clear and comprehensive legal system. He added that the next key step for China's economic development is to help entrepreneurs reach their creative potential.

[Photo provided to chinadaily.com.cn]

During the forum, Xu had talks with Wen Guohui, mayor of Guangzhou, and Zhao Haishan, deputy mayor of Tianjin, on cooperation between the two cities. Together with Jean-Jacques de Dardel, Swiss Ambassador to China, Travis Kalanick, founder and CEO of Uber and Shane Zhang, co-head of Asia Pacific Investment Banking at Morgan Stanley, they discussed Tsinghua’s cooperative development with the new stars of global innovation.

Zhao Haishan, deputy mayor of Tianjin, meets with Xu Jinghong, president of Tsinghua Holdings. [Photo provided to chinadaily.com.cn]

Xu Jinghong, president of Tsinghua Holdings Co Ltd, has talks with Jean-Jacques de Dardel, Swiss Ambassador to China. [Photo provided to chinadaily.com.cn]

Xu Jinghong, president of Tsinghua Holdings Co Ltd, meets with MrShane Zhang, co-head of Asia Pacific Investment Banking at Morgan Stanley. [Photo provided to chinadaily.com.cn]

Xu was interviewed on how China is welcoming the fourth industrial revolution, and the key force of China's innovation transformation. He was also queried about Tsinghua Holdings’ influence in China and globally.

2016 Summer Davos, with a theme of “The Fourth Industrial Revolution and Its Transformation Impact”, focuses on innovation, growth and systems and has attracted more than 1,700 guests to join in over 200 discussions.

The forum, hosted by Wang Boming, editor in chief of Caijing Magazine, began on June 26. Xu, Long Guoqiang, vice president of the Development Research Center of the State Council (DRC), Ma Weihua, the former president of China Merchants Bank, Wang Jianyu, the former president of China Mobile and the incumbent Chairman of the China Association for Public Companies, Liu Zhen, strategic chief of Uber Technologies Inc's China operations and Ni Ying, CEO of FESCO Adecco were in attendance.