BEIJING - A leading western Chinese city has been selected to host a meeting of top executives from the world's 500 leading corporations next year, Fortune magazine announced yesterday.
Organisers said Chengdu - the capital of the south-western province of Sichuan - is the "ideal location" for the Fortune Global Forum 2013, due to take place from June 6-8 next year, given China's growing economic clout.
"At a time when China is in the forefront of global business, Chengdu is the ideal location for the next Fortune Global Forum," Fortune managing editor Andy Serwer said at a press conference in Beijing.
"Situated in the heart of China's rapidly growing western region, it has become a dynamic magnet for multinational companies, a centre for higher education, and a leader in a diverse range of industries - from automotive and logistics to technology and services," he added.
The fourth Chinese city to host the summit, Chengdu - with a population of more than 10 million - is seen as a gateway to resource-rich western China, which is also an information-technology and financial-services hub.
The forum will focus on the evolution of China's domestic economy and the emerging role of the Asian country in the world, a press release stated.
China is the world's second-largest economy, but its growth is slowing and it is seeking to pull away from its reliance on exports and focus more on strengthening domestic demand.
China has cut its economic- growth target to 7.5 per cent this year, from 8 per cent last year, in an official acknowledgement that the export-driven economy is slowing.
The Asian powerhouse expanded 9.2 per cent last year, slowing from 10.4 per cent in 2010, as global turbulence and efforts to tame high inflation put the brakes on growth.
The guest list for the event next year has not been confirmed, but previous participants included former United States presidents Bill Clinton and George H. W. Bush, Chinese President Hu Jintao and Mr Robert Iger, head of The Walt Disney Company.