Regional Collaboration, Policy Guidance, and Green Initiatives: The Boao Forum for Asia Resonates with a Strong Call for Cooperation and Openness
From March 25 to 28, the Boao Forum for Asia 2025 Annual Conference brought together over a thousand representatives from more than 60 countries and regions in Boao Town. The theme, “Co-creating the Future of Asia in a Changing World,” emphasized open cooperation, sending a strong signal to uphold the multilateral trading system, expand external openness, and explore new avenues for international collaboration.
Maintaining Open Cooperation Amid Global Changes
In the face of increasing challenges and uncertainties globally, participants at the forum reached a consensus on the need to actively shape the future through economic globalization and multilateralism.
“2025 will be a year for all parties to face challenges and seek transformation,” stated Zhou Xiaochuan, Vice Chairman of the Boao Forum for Asia. He emphasized the importance of Asian countries promoting regional economic integration and fostering inclusive global economic globalization. There is a collective need to oppose unilateralism and trade protectionism while adhering to true multilateralism.
The successful signing and implementation of the Regional Comprehensive Economic Partnership (RCEP), which encompasses the largest population and trade volume among free trade agreements, exemplify Asia’s efforts toward economic integration and serve as a new development in global multilateralism and free trade.
“The establishment and effective operation of RCEP have advanced the liberalization and facilitation of trade and investment between regions, stabilizing cooperation in industrial, supply, and value chains among countries within the region, providing significant support for stable growth in the global economy,” noted Sang Baichuan, Director of the Institute of International Economics at the University of International Business and Economics.
Currently, RCEP is emerging as a new engine for economic growth in Asia. The 2025 Annual Report on Asia’s Economic Outlook and Integration Process, released by the Boao Forum, indicates that according to predictions by the International Monetary Fund (IMF), the GDP of the RCEP region is expected to grow by $10.9 trillion from 2023 to 2029. During this period, China’s contribution to the growth of the RCEP region will account for 84%, contributing over 30% to global economic growth.
“RCEP demonstrates the determination and capability for open cooperation,” stated Kuang Xianming, Vice President of the China (Hainan) Reform and Development Research Institute and the RCEP Research Institute. He highlighted that regional free trade mechanisms, represented by RCEP, have become a major driving force and institutional channel for economic globalization, continuously promoting market openness and enhancing regional trade liberalization.
Cheng Fulin, President of the China (Hainan) Reform and Development Research Institute, emphasized the importance of prioritizing the regional cooperation process centered around RCEP. “The demand for Asian integration is stronger than ever, and the degree of regional free trade is more pronounced. We must fully recognize the significance of regional economic integration and free trade in driving both regional and global development.”
China’s Steady Expansion of Institutional Openness
This year’s government work report emphasized the goal to “steadily expand institutional openness.” In recent years, China has resolutely promoted high-level openness, steadily expanding institutional openness. As the world’s second-largest economy, China’s economic development prospects and external open policies have garnered significant attention from attendees.
This year marks the operational year for the Hainan Free Trade Port. Long Yongtu, former Vice Minister of the Ministry of Foreign Trade and Economic Cooperation, noted at the Global Free Trade Port Development Forum during the Boao Forum that most countries worldwide are committed to maintaining trade openness, and the establishment of the Hainan Free Trade Port effectively signals China’s commitment to an open policy.
The Hainan Free Trade Port serves as a “testing ground” for the free movement of goods, services, capital, and data, and as a “pioneering zone” for integrated innovation of rules and systems.
“The construction of the Hainan Free Trade Port is a significant strategic measure for China’s commitment to high-level openness,” Zhou Xiaochuan remarked. He added that it will leverage local characteristics and advantages, actively exploring reform and innovation that align with Hainan’s development, thereby providing a notable demonstration effect for China’s reform and opening-up.
China is proactively aligning with international high-standard economic and trade rules through its participation in agreements such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Digital Economy Partnership Agreement (DEPA). This further expands autonomous and unilateral openness, continuously enhancing the creation of a market-oriented, rule-of-law, and international business environment, reflecting China’s confidence and determination to expand institutional openness.
“By steadily expanding institutional openness, we promote reform and development through openness. China is responding to global demands with responsibility and courage, continuing to provide stability and certainty to the world,” Zhou Xiaochuan stated.
Exploring New Spaces for Green Cooperation
“Three cups of coffee grounds and five plastic bottles can create a shirt.” This was showcased at the “Zero Carbon Bar” located at the Boao Forum venue, where an abandoned plastic bottle embarked on its “recyclable” journey. Staff explained how extracts from coffee grounds and polyester from plastic bottles combine to create coffee pellets, which are then processed into yarn using a spinning machine, resulting in fabrics with diverse textures, appearances, and properties.
In recent years, green and low-carbon initiatives have become buzzwords at the Boao Forum Annual Conference, embodying new spaces for future open cooperation.
The flagship report released during the conference, titled “Sustainable Development in Asia and the World 2025: Addressing Climate Change – Asia’s Push for Green Development”, indicates that China, Japan, and South Korea account for nearly two-thirds of global low-carbon patent applications, highlighting Asia’s crucial role in the global clean technology revolution.
During the forum, Luo Bixiong, Chief Scientist at China Energy Engineering Group, remarked that despite the slow progress of global energy transition, Asia has carved out a unique development path through technological breakthroughs and policy leadership. The rapid development of large coal-fired power, nuclear energy, offshore wind power, hydropower, hydrogen energy, and ultra-high voltage technology provides strong support for energy transition. Moreover, Asia’s robust market demand offers vast opportunities for the clean energy market.
According to Bai Lefu, Chief Economist at the Asian Infrastructure Investment Bank, China has made significant achievements in promoting green transformation, with continuously evolving technologies in green energy providing valuable insights for other developing countries.
The report predicts that in the future, green technology innovation clusters within Asia will further unlock the technological potential in lithium batteries, hydrogen energy, solar energy, and wind energy through deepened regional cooperation and technology transfer, promoting the comprehensive development of the green technology market across the region.
Numerous participating enterprises are also accelerating their exploration in this area. Luo Bixiong mentioned that China Energy Engineering is advancing the green upgrade of Asia’s energy structure through technological innovation and international collaboration.
“As a multinational enterprise focused on green manufacturing, our company will continue to explore in the fields of green energy and sustainable development this year, strengthening partnerships with leading companies across various industries to jointly promote technological innovation and application,” stated Zhai Jingli, Vice President of APP (China) during the forum.
