BERLIN - The sixth Hamburg Summit is scheduled to be held on Friday and Saturday in northern German port city of Hamburg. Over 500 representatives from the business, political and academic world are expected to attend the meeting.

Initiated by the Hamburg Chamber of Commerce in 2004, Hamburg Summit now serves as an important platform for open dialogues between China and Europe with an aim to enhance mutual understanding and to improve their economic relations.

In forms of keynote speech and panel discussion, the biennial meeting focuses on the latest issues regarding China and Europe's economy, as well as bilateral trade and investments.

In 2012, 440 high-ranking representatives from 21 countries discussed topics include China's role in the global economy, raw materials security, the liberalization of the RMB, "smart cities" and Chinese and European strategies in a multi-polar world.

The 2012 summit was also highlighted by a discussion between former German Chancellor Helmut Schmidt and former US Secretary of State Henry Kissinger. They shared their views on the future development of China and its influence on global governance.

Other topics discussed in previous meetings include economic restructuring in the post-crisis world, global trading and foreign exchange system, and China, Europe and the United States' joint solutions to the global crisis.

In its published program, Hamburg Summit 2014 lists topics such as change of Chinese economic system, increasing Chinese investment in Europe, Urbanization as part of Chinese reform strategy, greening Chinese economy and Chinese brands arriving at the global stage.

China said it would send its largest-ever delegation to Hamburg this year. On Saturday, Chinese Premier Li Keqiang is scheduled to attend the summit and give a keynote speech.

Participants from the European side will include European Parliament President Martin Schulz, EU Trade Commissioner Karel De Gucht and German Foreign Minister Frank-Walter Steinmeier.