China's northern port city of Tianjin is in the global spotlight as host of the World Economic Forum's Second Annual Meeting of the New Champions. Also known as the Summer Davos Forum,the meeting opened on Saturday with an address by Chinese Premier Wen Jiabao.

In his keynote speech at the opening ceremony, Chinese premier Wen Jianbao looked back at the achievements China has made during 30 years of reform and opening-up. Wen says the country will continue to implement further reforms during the entire process of China's modernization drive, in order to fix existing problems facing the the country.