The 2013 Fortune Global Forum, a prestigious world business summit, will be held in the southwest Chinese city of Chengdu in June 2013, organizers announced Monday.

The forum, running from June 6 to 8, will bring the CEOs of the world's biggest multinational companies, entrepreneurs and scholars to China for an event themed "China's New Future."

Andy Serwer, managing editor of U.S.-based Fortune Magazine, said China has an emerging role to play in the world market and noted the dramatic growth of the country's western region.

Delegates will share deep insights into new trends in today's complex global economy and glimpse its future, he added.

It will be the fourth time China gets to host the forum, initiated in 1995 by Fortune Magazine. Shanghai, Hong Kong, and Beijing have held the annual gathering previously, in 1999, 2001, and 2005 respectively.

Backgrounder:

The Fortune Global Forum is a summit for world economic magnates to discuss issues faced by global businesses. It is organized by Fortune Magazine under the Time-Warner Group of the United States.

Coming into being in 1930, Fortune Magazine began to appraise and select the top 500 U.S. enterprises with the largest operational revenue in the country in 1955.

In 1990, it started publishing a ranking of the top 500 industrial enterprises worldwide. In 1994, it expanded the ranking to the service industry.

The league table is based mainly on operational revenues. Factors taken into consideration also include assets, net income, sales volume, number of employees, investment and dividend.

It will be the fourth time China gets to host the forum, initiated in 1995 by Fortune. Shanghai, Hong Kong and Beijing have held the annual gathering previously, in 1999, 2001 and 2005 respectively.