The first Global Think Tank Summit was held in Beijing in July 2009 under the theme of Sharing Human Wisdom, Seeking Global Development.

The event attracted more than 30 major think tanks from home and abroad, over 100 former government officials, Nobel laureates and representatives from well-known domestic and foreign think tanks, Fortune 500 companies, international organizations and enterprises.

Li Keqiang, then vice-premier of the State Council, delivered a keynote speech at the opening ceremony.

Former president of the European Commission and former Italian prime minister Romano Prodi, former US secretary of State Henry Kissinger, founder of Grameen Bank and Nobel Peace Prize winner Muhammad Yunus and chairman of the Brookings Institution John L. Thornton were also at the opening ceremony.

During the first summit, participants discussed the largely disconnected relationship between virtual economy and real economy, which has caused the financial and economic crisis, including the over-expansion of the virtual economy and loose financial regulations.

They also elaborated on the necessity of enhancing and reforming the international financial and monetary system as well as improving government regulations.

To tackle the financial crisis, the summit suggested utilizing financial and technical assistance from developed countries to stimulate the development of China's urbanization and industrialization, accelerate technology transfer and advancement as well as improve trade and investment liberalization and facilitation.

The participants expressed their objection to protectionism and stressed the importance of both adjusting the relationship between savings and consumption and the critical role of international companies in the global market.

At the end of June 2011, the Second Global Think Tank Summit was held in Beijing under the theme of Global Economic Governance: Common Responsibility.

Li Keqiang, then vice-premier, delivered the keynote speech.

Former US secretary of state Henry Kissinger, former British deputy prime minister John Prescott, former deputy prime minister of Poland Grzegorz Kolodko, former minister of economy, trade and industry of Japan Toshihiro Nikai, former minister in the presidency of the Republic of South Africa Essop Pahad, former under-secretary-general for the United Nations Department of Economic and Social Affairs Sha Zukang, and former executive director of International Energy Agency Nobuo Tanaka were guest speakers.

More than 300 guests attended the summit, including representatives, experts and scholars from 80 think tanks across the globe, government officials and diplomats and foreign entrepreneurs.

The experts and scholars conducted in-depth discussions on forming a global strategy to contain inflation in order to prevent the deterioration of the international financial crisis.

They also expressed concern about global energy safety, the ever-growing virtual economic bubble and risks in the global capital market.

The participants agreed that it is urgent to actively promote reform of the global economic governance system, the internationalization of the renminbi, the development of emerging markets, and encourage the international community to seek consensus on major issues and enhance global knowledge sharing.

(China Daily USA 06/28/2013 page18)