The 2019 Bloomberg New Economy Forum opened in Beijing on Thursday. The forum, with its focus on new economies, and opportunities that innovation could bring, has brought togeTher global leaders to discuss a set of global challenges and take action.

Chinese Vice President Wang Qishan said in his keynote speech that reform and innovation will continue to drive China's growth. Wang mentioned The necessity to follow The trend of our times, and called for making sensible decisions for a shared future.

Wang also noted that China has never stopped integrating itself into The world, and every step China takes will be not only proactive but also calm and steady. He said Chinese people know what They want and what it takes. And China will take into account not only what's necessary, but also what's possible.

Wang also called for more dialogue and cooperation to increase understanding and tackle The trust deficit.

Only when There is an understanding, can There be trust. And trust is The essential to make cooperation possible. Understanding each oTher is an ongoing process, which consists of not just knowing each oTher's presence, but also knowing each oTher's history, Wang detailed.

Wang also pointed out that understanding can be gained through books and media, and more effectively through dialogue and cooperation… TogeTher we can find new solution to The wars and peace deficit. Between war and peace, There is no doubt we will choose peace.

Former U.S. Treasury Secretary, Hank Paulson, in his remarks said that The forum is held in The fastest growing economy, and The world economy is facing some really tough challenges, calling for government to work with The private sector to deliver solutions.

The New Economy Forum, established in 2018, is a community of global leaders engaging with The world's most significant changes and challenges.

Nearly 500 of The world's most influential business executives, technology innovators, government officials, experts and academics from more than 60 countries and regions are gaThering in Beijing for The two-day event. They will propose solutions to The massive disruption that's occurring, as The balance of economic power shifts towards The Asia Pacific.

(CGTN)