The Boao Forum for Asia is one of the most important platforms for discussions on the future of the regional economy. Let's hear what some of the high-level guests have to say about the annual conference.

YANG CHENGXI BOAO, HAINAN The three major reports published by the Boao Forum for Asia on Sunday showed positive signs of overall growth and trade among most Asian economies. In one of the sessions on Monday, experts discussed the future direction of the region.

In the past 20 years, Asia's economies grew an average 6.8 percent annually, faster than any other region in the world.

DAI XIANGLONG FORMER GOVERNOR, PEOPLE'S BANK OF CHINA "The region will remain the fastest growing in the world in the next 20 years. China will grow fast, as well as India. Cooperation among China, Japan and South Korea, as well as among ASEAN economies will be strengthened. China's Belt and Road Initiative will also bring new opportunities." 

This region is highly dependent on trade. A pick up in global trade volume in the past few years has helped the region come out of post-crisis stagnation. According to the latest Asian Economic Integration Report, a host of economies in the region saw double-digit growth in both imports and exports for the majority of 2017. However, how much of this momentum is sustainable?

FAN GANG DIRECTOR, NATIONAL ECONOMIC RESEARCH INSTITUTE "The trade friction between China and the US will cause economic fluctuations in Asia. The region has an integrated industry chain. China assembles many goods and the parts come from countries like South Korea and Malaysia. The trade friction will affect this whole chain and hence Asia's economy."

YANG CHENGXI BOAO, HAINAN Of course that's deem the biggest risk right now is the China-US trade tensions. Former Bank of Japan Governor Masaaki Shirakawa shared his views, as Japan in the 1980s also had a trade spat with the USA.

MASAAKI SHIRAKAWA FORMER GOVERNOR, BANK OF JAPAN "My conclusion is we should recognize to potential growth rate, if it is declining, we have to address this issue, otherwise bubble will increase. We should not focus too much on political issue but fundamentals."

Experts say Asia is facing many long-term and short-term risks.

DAI XIANGLONG FORMER GOVERNOR, PEOPLE'S BANK OF CHINA "China's growth contribution will change. Our exports and domestic investments dropped but consumption increased. The country is focusing more on the quality of growth. That's why we need to phase out zombie companies. This will lead of a lot of closures, so I believe China should have better laws in corporate debt restructuring and improve the supply of social capital."

Experts say while an improvement in economic environments is surely welcomed in the region, Asian economies should not reduce the sense of urgency to push ahead with painful yet necessary structural reforms. YCX, CGTN, BOAO.