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Hainan Boao Forum brings intensive development into the spotlight

According to the Boao Forum for Asia program, energy, economic digitalization, inter-regional initiatives and projects, and low-carbon technology are key areas for global cooperation

BOAO /China, April 19. /TASS/. The Boao Forum for Asia (BFA) in South China's Hainan province will hold a series of panel discussions on intensive green development and promotion of multilateral cooperation in a rapidly changing international environment. The event will focus on the development of the Hainan Free Trade Port, as the organizers of the event said.

According to the BFA program, among the key areas for global cooperation capable of improving the well-being of all countries concerned are energy, economic digitalization, inter-regional initiatives and projects, and the introduction of low-carbon technologies. In addition, participants plan to discuss how to make the most of the resources of the South China Sea, with its large offshore oil and gas reserves.

Also, on the agenda is a highly topical issue for Russia related to the formation of a new, more efficient global financial system. Guests are expected to exchange views on the role China's capital market should play in stimulating the development of the global economy and strengthening international integration processes.

The theme of this year's forum is 'Pandemic and Peace: Working Together for Global Development and a Common Future'. The BAF will bring senior Hainan officials to introduce the benefits of China's southernmost province's free trade port to the public.

The forum in the small town of Boao on the east coast of Hainan is held regularly since 2001 with 29 participating countries (Asia-Pacific nations). It did not take place in 2020 due to the pandemic, but in 2021 it was organized in an in-person format, and this time to ensure pandemic safety it will be held on 20-22 April in strict isolation (in a so-called bubble). The BFA is known as the Eastern Davos: it is a major platform for signing important agreements, coordinating positions between business and government representatives from Asia and all other regions of the world. Chinese authorities pay great attention to its development and consider it an effective instrument of soft diplomacy that helps boost and strengthen Beijing's international contacts.

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