Boao Forum 2025 sends strong message of openness, cooperation in Asia

The Boao Forum for Asia (BFA) Annual Conference 2025 closed on Friday in Boao, south China's Hainan Province, with openness and cooperation as key topics discussed.

This year's forum, under the theme of "Asia in the Changing World: Towards a Shared Future," highlights the importance of innovation, openness and collaboration in fostering economic growth in Asia and beyond, Frank-Juergen Richter, chairman of the international think tank Horasis and former director of the World Economic Forum (WEF), told Xinhua in an interview ahead of the BFA.

Innovation and regional cooperation are key to addressing global challenges and fostering sustainable development, he said.

Collaboration is more effective, especially when some countries, such as the US, have forgotten to cooperate and are imposing large tariffs, said Carl Fey, professor of strategy at BI Norwegian Business School in Oslo, Norway.

Lord Gerry Grimstone, former minister for investment at the Department for International Trade and Department for Business, Energy and Industrial Strategy of the UK, said that a trade war benefits nobody and people need to remember that global trade is good for people and economic growth.

China's opening up has also played a positive role in deepening regional cooperation in Asia. Jiang Ying, chair of market consultancy at Deloitte China, defined the new era of Asian cooperation as reciprocal. Jiang said that China continues to promote high-level opening up in the manufacturing sector and attract global enterprises by optimizing the business environment, which will ultimately help Asia's economy.

China's visa-free policies have made it convenient for foreign businesses to operate, said Denis Depoux, global managing director of Roland Berger.

(With input from Xinhua; cover via VCG)