'Asia Davos Forum' Boao Forum Opens... Emphasizing 'Globalization and Multilateralism'

Boao Forum Opens in Hainan with Over 2,000 Participants
Speculation Grows Over President Xi's Meeting with Global CEOs on Final Day

The Boao Forum for Asia (BFA) in China opened on the 24th in Boao, Hainan, China, for a four-day schedule, with reporters writing articles at the press center. / Photo by Xinhua News Agency and Yonhap News

The Boao Forum in China, known as the "Davos Forum of Asia," opened on the 25th in Boao, a coastal city in Hainan Province in southern China, beginning a four-day schedule.

The Boao Forum took over the baton from the China Development Forum (CDF), which was held on the 23rd and 24th for CEOs of global major companies. More than 2,000 participants from over 60 countries and regions attended this event, including Kim Hee-sang, Economic Diplomacy Coordinator (Vice Minister level) of the Ministry of Foreign Affairs from Korea.

This year's forum theme is "Creating Asia's Future in a Changing World." Specifically, discussions focus on four major agendas: ▲ Building trust and promoting cooperation in a rapidly changing world ▲ Rebalancing globalization for inclusive development ▲ Accelerating sustainable development goals ▲ Applying artificial intelligence (AI) and strengthening governance. Additionally, topics such as balancing AI applications and governance, enhancing digital capabilities, and bridging the digital divide are also addressed.

The selection of these topics appears to reflect China's intention to counter the United States, which is moving toward isolationism and prioritizing its own interests, while advocating globalization and multilateralism. The Chinese state-run Global Times noted, "The CDF and Boao Forum are regarded as platforms to expand cooperation with foreign companies and establish policies reflecting a global perspective."

Ban Ki-moon, Chairman of the Boao Forum, also stated, "In 2025, amid complex geopolitical changes, Boao will become a platform that delivers a different voice to the world," adding, "Asia is becoming a global model not only in economic growth but also in technological innovation, poverty eradication, combating desertification, and achieving the SDGs." He emphasized that Asia is strengthening its role as a core supporter of multilateralism, free trade, and globalization.

On the 28th, when the Boao Forum schedule concludes, there is also speculation that President Xi may meet with global CEOs in Beijing. Earlier, the British daily Financial Times (FT) reported that President Xi plans to meet with global company CEOs who participated in the China Development Forum and other events on the 28th, and that the list of attendees is being coordinated.

Meanwhile, in the annual report announced at a press conference, the Boao Forum forecasted that Asia's real gross domestic product (GDP) growth rate this year will slightly increase to 4.5% from 4.4% last year. Major Asian countries including China, India, Vietnam, the Philippines, Mongolia, Cambodia, and Indonesia are expected to maintain relatively high growth rates above 5%.