GES tries to provide a new collaborative setting for building communities to tackle global economic problems and it is "action-oriented" which aims to formulate concrete solutions, said Dennis Snower, President of Kiel Institute for the World Economy, one of the organizer of GES.

The GES will last till Friday and it has attracted about 300 experts or leaders in the circles of politics, business and academics, including four Nobel laureates and former German Chancellor Helmut Schmidt.

During the symposium, the experts and leaders will discuss the problems such as climate change, energy securing, effects of globalization, global financial risk, and aging syndrome.

In order to encourage openness in exchanging ideas and information, most of the discussions are covered by the Chatham House Rule, which means "Participants are free to use the information received, but neither the identity nor the affiliation of the speakers, nor that of any other participant, may be revealed."