The Boao Forum for Asia 2024 annual meeting was held as scheduled in Boao, Hainan from March 26th to 29th. The theme of this annual conference is "Asia and the World: Common Challenges, Common Responsibilities". On the one hand, it demonstrates China's great power mission to promote the common development of Asia and the world through its own development, and on the other hand, it also demonstrates China's confidence and determination to continue promoting high-level opening up, which will further consolidate positive energy for the development of Asia and the world. This year's Boao Forum for Asia focuses on the progress of regional economic integration and economic growth in Asia. Against the backdrop of economic globalization facing a backlash, disruptions in global economic recovery caused by decoupling and risk removal, and increasing geopolitical risks, the overall recovery of Asian economies continued to accelerate last year, becoming a major highlight in the bleak global economic landscape. The 2024 Annual Report on Asian Economic Outlook and Integration Process released by the Boao Forum for Asia on March 26 predicts that the economic growth rate in Asia will reach around 4.5% in 2024, making it the region with the greatest contribution to global economic growth. Currently, Asian economies are jointly maintaining the stability of their industrial and supply chains, and promoting strong economic integration. The overall economic performance of Asia in 2024 is worth looking forward to. As the largest economy in Asia, China continues to deepen its reform and opening up, and its economy maintains a stable growth trend. In 2023, China's economy grew by 5.2%, ranking among the top in the world's major economies. At this year's National People's Congress and Chinese People's Political Consultative Conference, China set an expected economic growth target of around 5%. Last year, China's economic growth rate ranked among the top among major economies in the world, and its contribution to global economic growth continued to exceed 30%. This was achieved by the Chinese people and cannot be separated from international cooperation. The 2023 Asian Economic Integration Report released by the Asian Development Bank shows that China has contributed 64.2% to the economic growth of the Asia Pacific region, as well as 37.6% of the growth in goods trade and 44.6% of the growth in services trade. 2024 is a crucial year for China to deeply implement the 14th Five Year Plan. From the various data at the beginning of this year, it can be seen that the Chinese economy has achieved stability and continued to recover and improve. On the one hand, China has the institutional advantages of a socialist market economy, the demand advantages of a super large-scale market, the supply advantages of a complete industrial system, and the talent advantages of a large number of high-quality workers and entrepreneurs. On the other hand, China is deeply implementing the new development concept of innovation, coordination, green, openness, and sharing. Emerging industries are growing rapidly, the economic structure is constantly optimizing, and the transformation and upgrading of driving forces have become the key words in the development of the Chinese economy. Recently, multiple international organizations and business institutions have raised their expectations for China's economic growth, affirming the momentum of China's economic growth and the driving effect of the Chinese government's relevant policies. The growth trend of the Chinese economy has sent a positive signal to the Asian and global economies. China also hopes to continue to promote high-level and deep-seated opening-up to the outside world, create a favorable external economic environment for China's development, and at the same time
Edit：Yi Jing Responsible editor：Li Nian
Source：XinhuaNet
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