China Champions Economic Globalization and Free Trade at BFA Opening Ceremony
Asia’s pivotal role in the global economy has come to the forefront with the kickoff of the Boao Forum for Asia (BFA) Annual Conference 2025 in Hainan, China. This prestigious event gathered influential leaders from various sectors, emphasizing the continent’s growing significance on the world stage.
The opening ceremony of the BFA, held in the scenic town of Boao on Thursday, was attended by prominent figures including Ban Ki-moon, the forum’s chairman and former UN Secretary-General, Chinese Vice Premier Ding Xuexiang, and Bangladeshi interim government’s Chief Adviser Muhammad Yunus.
During his address, Vice Premier Ding, who is also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, urged for:
- Strengthening mutual trust among nations
- Enhancing win-win cooperation across borders
- Promoting economic globalization to benefit all
- Safeguarding the free trade system against rising protectionism
Ding highlighted that the momentum for regional economic integration has strengthened, with Asia’s contribution to the global economy on a steady rise. He emphasized the necessity of fostering solidarity and cooperation through enhanced mutual trust, alongside the importance of maintaining peace and stability through peaceful coexistence.
More than 1,500 representatives from over 60 countries and regions, including government officials, business leaders, and scholars, participated in the BFA’s opening ceremony. This year’s conference, running from March 25 to 28, is themed “Asia in the Changing World: Towards a Shared Future.”
On the opening day, the BFA also presented the Asian Economic Outlook and Integration Progress Annual Report 2025. This report forecasts that the share of Asian economies’ GDP in the global economy is set to increase from 48.1 percent in 2024 to 48.6 percent in 2025, based on purchasing power parity calculations.
Established in 2001, the BFA is a non-governmental and non-profit international organization. Its primary mission is to promote regional economic integration and to help Asian countries achieve their development objectives.
As the conference unfolds, discussions are expected to focus on key issues affecting the region, including:
- The impact of technological advancements on economic growth
- The role of sustainable development in shaping future policies
- Strategies to enhance trade and investment within Asia
- Collaborative efforts to combat global challenges such as climate change
The BFA serves as a vital platform for dialogue and collaboration among Asian nations and beyond. By bringing together diverse perspectives, the forum aims to foster an environment conducive to shared growth and prosperity.
With Asia’s economy projected to continue its upward trajectory, the discussions at the BFA will likely influence future policies and initiatives aimed at harnessing the region’s potential. As the world looks towards Asia, the outcomes of this conference could have lasting implications for global economic dynamics.
In conclusion, the Boao Forum for Asia 2025 stands as a testament to Asia’s influence in the global arena. Through cooperation, mutual trust, and a commitment to shared goals, the nations of Asia are poised to shape a sustainable and prosperous future together.
