Summer Davos to discuss ways to re-launch world economic growth
Global business leaders and policy makers are gathering in Dalian in northern China, from today (Sept 10th) until Saturday (Sept 12th) to take part in the three-day Summer Davos 2009. 1,400 participants from 86 countries and regions will discuss ways to revive economic growth. Discussions at the summit will focus on five main issues: opportunities for a green economy, driving economic growth through science and technology, addressing societal needs through innovation, new business models in a developing world and rethinking Asia's development model. China will also be under scrutiny during the Summer Davos forum, as the country's economy is in a crucial phase of stabilization and recovery. Topics such as the future of the financial services in China will be discussed at the meeting.

Sino-US solar power deal generates optimism
China and the US will work together on nearly $12.4 billion of agreements and contracts - including the largest solar power project between the two countries. First Solar Inc, the world's largest thin-film solar module manufacturer, will build the world's largest solar power plant in Ordos, Inner Mongolia. The agreements and contracts centered on investment as well as economic and technological cooperation were signed in the presence of the standing committee's Chairman for the National People's Congress, Mr. Wu Bangguo. He attended the one-day US-China Economic and Trade Cooperation Forum in Phoenix on Tuesday (Sept 8th).

Photo from people.com.cn

China remains most attractive country to foreign capitals: commerce official 
A commerce official said on Wednesday (Sept 9th) that China remains the most attractive country for foreign capital, despite the fact that the country's foreign direct investment declined for ten straight months. Wang Chao, the assistant commerce minister, said at the World Capital Forum in Xiamen, in eastern China's Fujian Province, that "China has been the top destination for foreign capital for 17 consecutive years." A report released by the United Nations Conference on Trade and Development (UNCTAD) on July 22 shows that China ranks first on the list of the five most attractive destinations for foreign capital. Amidst a global economic downturn the country has received over 48 billion U.S. dollars of foreign direct investment (FDI) from January to July this year, down 20% over the same period last year. Wang Chao said the country's prospects for overseas investment remains optimistic as it would simplify examination and approval procedures toward foreign investors.