Full coverage: Summer Davos Forum 2016

The summer World Economic Forum, also known as the Annual Meeting of the New Champions, will be held in China's Tianjin city from June 26th to 28th.

Top Chinese officials, and more than 1700 participants from over 90 countries will gather to discuss economy and innovation. CCTV reporter talked to participants who are scheduled to attend as well as the organizer of the event to get a taste of this year's main topic.

The World Economic Forum is about to kick-off later this month. Every year, the primary discussion has always been the state of the Chinese economy. Participants such as professor Huang Yiping from Peking University says he will surely talk about China’s current economic challenges.

The forum's organizer said during a press conference that 2016’s WEF is being held with this very issue in mind. The theme of 2016 is the fourth industrial revolution, a fitting topic, according to the forum’s Greater China Managing Director David Aikman.

China is going through structure reforms in its manufacturing sector as smart machines gradually replace cheap labor.

"If you look at the Chinese context with China moving up the manufacturing value chain, last year it was the largest consumer of industrial robots. Yet it has to grapple with the displacement it causes for workers and the potential challenges there," said David Aikman, Greater China Managing Director, WEF. 

"So none of these transformations are straightforward and they are happening at high pace. So it’s important to have these discussions at these meetings."

Participants say what's also interesting to see, as leaders talk about industrial upgrade, is how both Chinese and foreign industries can work with China's new national strategies such as Made in China 2025, and jointly benefit from the country's massive transition.