Boao Forum for Asia: The 2019 Boao Forum ends with consensus on shared future

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02:39

The 2019 Boao Forum for Asia is coming to an end. As the global economy is crippling with challenges, what has the forum offered to address these problems? CGTN's Cui Hui'ao tells more.

CUI HUI'AO BOAO FORUM, HAINAN PROVINCE "This year's Boao forum is being held at a time of uncertainty. The global economy is slowing down, multilateralism is under threat, and China-US trade negotiations are filled with challenges. Participated in by over 2000 delegates from 60 countries, the four-day Bo'ao Forum has generated practical solutions to address these pressing issues."

With regard to who could take the lead in countering global economic growth downturn, the forum says it's the Asian economies. The 4 flagship reports released by Boao Forum say Asian economies are increasingly integrated, the gap between the developed and the developing has narrowed, and economic outlook for Asia remains promising.

LI BAODONG, SECRETARY GENERAL BOAO FORUM FOR ASIA "Building more balanced and healthy globalization will bring tangible benefits to world citizens. And this is why Asian economies should further collaborate closely with each other."

CUI HUI'AO BOAO FORUM, HAINAN PROVINCE "The idea that no single country can handle a global crisis on its own has been echoed during many side-forums here at Boao. Panelists have called for further progress in WTO reforms, and have also suggested that the Belt and Road Initiative is not China's solo show."

JIN LIQUN PRESIDENT, ASIAN INFRASTRUCTURE INVESTMENT BANK "Any project done by any investor any country in any part of the world is belt and road, as long as they promote regional cooperation."

Even on the technological front, panelists say it is not a battlefield, but rather collaboration is THE path to success. Whether it is 5G, or AI, only collaboration between industries and countries could lead to win-win development.

CUI HUI'AO BOAO FORUM, HAINAN PROVINCE "One of the biggest highlights at this year's Boao Forum was Premier Li Keqiang's keynote speech, in which he rolled out concrete measures to reassure the world that China's opening up is going to continue moving forward."

LI KEQIANG CHINESE PREMIER "We will further open up our service sector especially the financial services, full market access for foreign investors to banking, securities, insurance industries is being expedited."

Apart from measures like shortening the negative list and opening up more sectors, Premier Li says China's economy has enough resilience, potential and ample room for growth, and China welcomes the world to join in China's market.

CUI HUI'AO BOAO FORUM,HAINAN PROVINCE "Shared Future, Concerted Action, and Common Development. The 2019 Boao Forum is now drawing to a close. It sends a strong message: that only globalization and multilateralism can save the world from its problems. Cui Hui'ao, CGTN, Boao, Hainan Province."