The second World Emerging Industries Summit opens on Nov. 22 in Wuhan City, central China's Hubei Province.

Themed "Innovation leads development, cooperation creates future," the summit is jointly organized by the Wuhan municipal government and the Asia-Pacific CEO Association Worldwide (APCEO).

More than 1,000 participants, including leaders from Fortune 500 companies, Forbes 2000 companies and other outstanding listed companies from developed countries, leaders from industry-leading companies within world emerging industries, renowned economists, experts and scholars in related fields as well as chiefs from famous international organizations and industry associations are in attendance.

In the past 20 years, new science and technology has been popping up at an increasingly faster pace. It thus becomes inevitable for those countries, eager for their growth and development to dig into their national strengths and advantages, to promote innovation and cooperation.

"The world economy is not that much different from a bicycle. Maybe a bit more complicated, admittedly. You know I say this coming from an old country, with an old Tour de France -- 100 years of bicycle racing. If you want your bicycle not to fall down, you have to keep on moving," said Global Chairman of APCEO Dominique de Villepin, who is also the former French prime minister. "That's why we need progress. And this means innovation. It's not only about new products; it's about new possibilities, new horizons, new ways of life. There are key battles to be fought and they will be won through ideas," he added.

Tang Liangzhi, mayor of Wuhan City, said that emerging industries are an important engine of world economic development, representing the direction of technological innovation and industrial development. Developing emerging industries has become a significant strategy for the world's major countries and regions to seize the high ground in new rounds of economic and technological development.

"Talent is the key to develop emerging industries," Tang said. At present, Wuhan focuses on gathering overseas high-level innovative talent in order to make efforts to develop "talent special zones" and build an international talent highland. A world-class innovative team will be given a maximum of 100 million yuan to fund its business. High-level innovative talent will be given a maximum of 5 million yuan in subsidies. Since 2009, over 1,000 domestic and overseas talent teams have been introduced to Wuhan.

The first World Emerging Industries Summit was held in 2010, in Changchun City of northeast China's Jilin Province.

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