The world should work to make the rise of China an opportunity for all, said Klaus Schwab, founder of the World Economic Forum (WEF), on Wednesday.

"It (The rise of China) could be a win-win situation," Schwab told Xinhua.

"But we have to work very carefully to make it really a win-win situation. In order to do so, we have to create a much better mutual understanding," he said.

Schwab said the presence of Chinese Vice Premier Zeng Peiyan at the annual event will help with this respect. He expressed the hope that more Chinese representatives will be at Davos next year.

The rise of China and India is a prominent issue on the agenda of the four-day forum.

Schwab said the rise of the two Asian countries has already had tremendous global impacts.

"The supply and demand equation for many commodities has changed fundamentally," he added.

Besides China and India, Schwab pinpointed technological innovation and the general global economic outlook as the fundamental issue of the forum, which is conducted under the theme "The Creative Imperative."

He said technological innovation is making sweeping changes to the world.

"We are going through a new technological revolution ... We are moving from globalization to 'Googlization,' which means knowledge becomes a commodity, everybody has access to knowledge.

"So the real competitive advantage comes from being innovative. Of course creativity is the basis for innovation. Those countries will become champions of tomorrow who can install innovation, creativity in all aspects of society, not only in business, but also in governance," he said.

Schwab said hot issues to be discussed also include Iran, Iraq and the Middle East.

The forum in the tiny Alpine resort attracted some 2,340 business executives and government officials from some 89 countries around the world.