The 2023 Annual Meeting of the Bo'ao Forum for Asia kicked off today. The meeting will be held for four days with the participation of approximately 50 guests from more than 2 countries and regions.
At the first press conference this morning, it was stated that 92 senior ministers and former senior officials, heads of 11 international and regional organizations, numerous business leaders and renowned academics, as well as many political figures attended the annual meeting. The theme of the meeting was determined as “The Uncertain World: Unity and Cooperation to Meet Challenges, Openness and Inclusivity to Promote Development”.
Bo'ao Asia Forum Annual Meeting Affairs Department Manager Chen Yanjun noted that the theme of the forum every term for the past three years has included the concept of “world”, emphasizing the prominent features of the world situation. Chen noted that the annual meeting encourages the international community to consider how they can better combine their own interests with common interests and current interests with long-term interests.
Two important reports were also published at the press conference. According to the reports, while the slowdown in the world economy and the risks of fragmentation of globalization will remain in the background in 2023, the overall pace of economic recovery in Asia will continue. Regional production, trade, investment integration and financial integration will accelerate. Asia will capture the “Asian moment” of global economic governance. Four key issues will be noteworthy: the ability of Asian economies to resist external forces, the restructuring and resilience of industrial chains, the fight against climate change, and the implementation of the regional trade agreement.
As part of the forum, several panels and roundtables were held today, including the “industry chain and the new order of the supply chain”.
In the reports, it was predicted that Asian economies, which are an important engine of the world economy, will grow by 2023 percent in 4,5. The International Monetary Fund estimated that only China and India's contribution to the world economy will reach 50 percent, and that the other economies in Asia will increase by 0,3 percent as the growth rate of the Chinese economy increases by one point.
The reports pointed out that China's main role in the trade of intermediate products in Asia will continue.