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Hainan to update Boao's infrastructure for economic forum's anniversary

Boao's Economic Forum for Asia is dubbed the Eastern Davos

HAIKOU, June 18./TASS/. China's Hainan has started preparations for the modernization of Boao's infrastructure to mark the international economic forum's 20th annoversary. The city hosts the Economic Forum for Asia, which is often referred to as the Eastern Davos.

According to the local administration's statement, they plan to build the new international congress-hall, hotels. parks, duty free stores by March, 2020. The local airport is also expected to be modernized.

At the same time, according to Governor Shen Xiaoming, "it is necessary to impose tight control on the city construction processes: to carefully design the space, pay attention to the facades, as well as not to tear down old buildings masively", the official stressed.

One of the main goals is to turn Boao into a city that could easily host numerous international busineness and state delegations.

About the forum's history

Boao Forum for Asia, dubbed the Davos of the East, is a big platform for signing important agreements and international coordination between business and political elites, The forum has been held since 2001, usually in spring, following China's main annual political event — the two sessions, where the Chinese authorities shape up the country's national strategy.

The government pays special attention to the forum as it facilitates China's international contracts, settles diplomatic agenda, promotes China's image and the concept of "Community of Common Destiny" globally. According to the Chinese top diplomat, this regular forum "has become an important bridge connecting China with the outside world".

The Boao Forum bacame the center of global attention in April, 2018, when China's President Xi Jinping attended the opening ceremony. Speaking at the forum, the Chinese leader for the first time announced a number of important national policy highlights regarding the new market reforms, structural changes and boosting China's openness.

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