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China's economic prospects, opening-up pledges help global growth, stability as Boao Forum kicks off annual meeting

2024-03-27 10:00:13       source:Global Times

March 26, 2024

The Boao Forum for Asia (BFA) convened its annual conference in Boao, South China's Hainan Province on Tuesday, with officials and other participants calling for unity and cooperation in Asia and around the world to jointly tackle rising regional and global challenges, ranging from trade protectionism to geopolitical tension. 

In a flagship report released on Tuesday, the BFA, which is often referred to Asia's version of the World Economic Forum in Switzerland, projected a substantial upswing in economic growth of around 4.5 percent in 2024 and that Asia's economic integration remains unchanged, while warning of challenges. The report pointed out China's major contribution to global economic growth with its vast market, highlighting China's critical role in not just Asia, but also the world.

This year's BFA drew representatives from more countries and regions than last year's edition, underscoring the rising influence of not just the BFA itself, but also the host nation - China. Many foreign guests in Boao highlighted China's solid economic fundamentals and improving business environment, echoing a resounding message from global business executives at the China Development Forum (CDF) in Beijing that concluded just a day before the BFA opened.  

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