China to host world's top CEOs in 2013

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 on Monday.

Organisers said Chengdu -- capital of the southwestern province of Sichuan -- was 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 IT and financial services hub.

The 2013 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 of the event stated.

China is the world's second largest economy, but its growth is slowing and it is now seeking to pull away from its reliance on exports and focus more on strengthening domestic demand.

The guest list for the 2013 event has not been confirmed, but previous participants have included former US presidents Bill Clinton and George Bush senior, Chinese President Hu Jintao and Robert Iger, head of The Walt Disney Company.

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