Xiamen in East China's Fujian province boasts an excellent natural environment, a sound business climate, and a solid financial foundation, all of which will play a major role in the development of its new economy. [Photo/VCG]

The 2019 Xiamen New Economy Development Summit is scheduled to take place in Xiamen, Fujian province on Nov 29.

A number of business founders and the top managers of some of China's leading firms, including Qudian, a leading provider of online small consumer credit in China, and PwC, a global accounting firm, will take part in the summit and discuss the future of and opportunities brought about by the new economy.

The new economy has become one of the Chinese economy's key drivers of growth, and in recent years, the coastal city of Xiamen has taken various measures to accelerate the development of its new economy by building a world-class business environment, introducing new economy enterprises, and attracting top talent.

In 2018, research and development of the new economy accounted for 3.27 percent of Xiamen's total annual GDP, and the city is now home to 2,079 high technology and high value-added enterprises, including Luckin Coffee, a leading Chinese coffee chain, and Ucar, a leading comprehensive service platform for China's travel and auto sectors. In the future, Xiamen is expected to see more projects, technology, capital, and talent propelling the development of its new economy.