With the theme “Asia in the Changing World: Towards a Shared Future,” the Boao Forum for Asia Annual Conference 2025 opens on March 25 in Boao, Hainan Province, south China (XINHUA) 

In 1955, the Bandung Conference ignited a spirit of solidarity and cooperation, uniting 29 Asian and African nations with a shared vision of equality, peace and mutual respect. It was a transformative moment that empowered Asian and African countries to shape their own destinies and sparked a new era of global dialogue.

Seventy years later, that spirit remains alive in the Boao Forum for Asia (BFA), an essential platform connecting Asia's economies with the world.

Founded in 2001 and headquartered in Boao, Hainan Province, south China, the forum was initiated by 29 member states. It continues to foster dialogue, understanding and progress in an increasingly interconnected Asia, which now faces rising geopolitical tensions, sluggish economic recovery, technological disruptions and urgent climate challenges.

"Our world is experiencing far greater instability and uncertainty," Chinese Vice Premier Ding Xuexiang said at the opening ceremony of the BFA Annual Conference on March 27. Ding is also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee.

He called on Asian countries to work together to strengthen solidarity and cooperation through greater mutual trust, promote economic globalization through openness and integration, seek prosperity and development through mutual benefit and win-win cooperation, and safeguard tranquility and stability through peaceful coexistence.

This year's theme of the BFA Annual Conference, Asia in the Changing World: Toward a Shared Future, underscored the critical need for collective action and renewed multilateral cooperation.

"We hope this conference sends a strong message of confidence, unity and overcoming challenges to build a better future. Asia is leading global development with promising prospects," said BFA Secretary General Zhang Jun.

A platform for dialogue 

Often referred to as the "Asian Davos," the forum convenes political and business leaders to discuss trade, investment and technology, with growing participation from Global South countries outside Asia in recent years.

During the four-day event from March 25 to 28, guests, including leaders of Laos, Bangladesh, Kazakhstan and Russia, delivered speeches or participated in dialogues. Over 50 activities were held, including keynote speeches, panel discussions and roundtable sessions addressing key global challenges.

The forum attracted around 2,000 participants from over 60 countries and regions, along with more than 1,100 journalists representing nearly 150 media outlets from 30 countries. This diverse participation underscored the forum's importance as a platform for dialogue and reflected a shared commitment to addressing global challenges and fostering collaborative development, Zhang added.

Asian century 

"The 21st century will be an Asian century. And that is because of the success of globalization. It is maybe the biggest success of globalization," Ian Goldin, a professor of globalization and development at the University of Oxford, told Beijing Review.

While the global economy maintains a moderate pace of growth, uncertainties fueled by trade frictions, geopolitical complexities, market volatility and persistent inflation continue to cast a shadow. Yet, despite these challenges, Asia remains a key engine of global growth, according to the BFA's annual report on Asian economy and integration, released on March 25.

The report projects Asia's weighted real GDP growth rate to reach 4.5 percent in 2025, slightly higher than the 4.4 percent achieved in 2024. At purchasing power parity, Asia's share of global GDP is expected to rise from 48.1 percent in 2024 to 48.6 percent in 2025, further solidifying its role as a driver of global economic momentum.

Zhang Yuyan, Director of the Institute of World Politics and Economics at the Chinese Academy of Social Sciences, highlighted that "this economic performance means that Asia is set to benefit from global economic stabilization in 2025 and will also play a crucial role in contributing to this stability."

A recent report on global and Asia-Pacific economic confidence by the Boao Forum for Asia Academy revealed that 60 percent of respondents remain optimistic or relatively

optimistic about Asia's economic growth. However, 17.28 percent expressed a relatively pessimistic outlook—an increase of 11.65 percentage points from last year's survey.

This shift mirrors the International Monetary Fund's forecast, reflecting the uncertainty surrounding Asia's growth amid a changing global landscape. Notably, no respondents expressed an entirely pessimistic view of Asia's economic future.

The opening ceremony of the Boao Forum for Asia Annual Conference 2025 in Boao, south China's Hainan Province, on March 27 (XINHUA) 

Strengthening connectivity 

"Mitigating the pressures and shocks of global crises and overcoming the challenges ahead is impossible without international cooperation and solidarity," Lee Hee-sup, Secretary General of the Trilateral Cooperation Secretariat, said at the forum.

"Since overcoming the 1997 Asian financial crisis together, the Asian region has consistently turned crises and challenges into opportunities," he added. For instance, the Association of Southeast Asian Nations (ASEAN)+3 framework stands as a symbol of shared recognition of the need for cooperation and a strong spirit of solidarity—key driving forces in navigating past crises. East Asia has also built trust and strengthened cooperation through platforms such as Asia-Pacific Economic Cooperation and the Trilateral Summit, while establishing economic partnerships like the Regional Comprehensive Economic Partnership to boost regional trade and integration.

"We need to align policies and initiatives for better enforcement and greater impact, as each mechanism has its own functions," Shi Zhongjun, Secretary General of the ASEAN-China Center, said at this year's BFA.

He emphasized the importance of identifying overlaps and gaps among different regional mechanisms to optimize resource allocation and develop initiatives that are complementary and effective.

"Despite their different mandates and priorities, regional mechanisms can and should cooperate with one another, forming a just and holistic framework of strength, rather than being competitive or exclusive," Shi added.

Marty Natalegawa, former Foreign Minister of Indonesia, proposed establishing an Asia-wide architecture that would support countries and organizations to promote greater synergy in the region.

Dino Patti Djalal, founder of the Foreign Policy Community of Indonesia, echoed this sentiment, warning that "as we brace ourselves for a messier world, what we desperately need is more diplomacy and more leadership or statesmanship." He expressed confidence in Asia's ability to evolve an eclectic model that ensures a rules-based international order and fosters a shared vision for peace and progress.

China's role 

Wang Xiaojun, Trust Fund Director of the United Nations Office for South-South Cooperation, noted China's positive role in synergizing efforts in Asia by making peaceful development a national policy. "This sends a strong and clear message to the world: China upholds the principles of equality and mutual benefit in its cooperation with other Asian countries, which is its greatest contribution to regional stability," she told Beijing Review.

Zheng Yongnian, Honorary Dean of the Institution of Politics and Economics at Shanghai Jiao Tong University, emphasized China's potential to reshape the global trade landscape through its continued opening-up policies. He noted that China recently concluded the China-ASEAN Free Trade Agreement 3.0 and has signed free trade agreements with 29 countries and regions.

"By co-building the Belt and Road Initiative, China is promoting the economic development of participating countries, which will also have a positive impact on the reshaping of the global trade structure," he said at the forum.

Zheng said he believes China is also contributing to rebuilding global trust through initiatives such as the Global Development Initiative and the Global Security Initiative. "Dialogue gives us a sense of security, which can boost development," he noted.

China's commitment to deepening reform and opening up has strengthened confidence in inclusive globalization and an open world economy, injected new momentum into a strong and balanced global recovery, and created fresh opportunities for international cooperation, said BFA Chairman and former UN Secretary General Ban Ki-moon at the opening ceremony.

(Reporting from Boao, Hainan Province, with Peng Jiawei contributing to this story) 

(Print edition title: Charting Asia's Path Forward) 

Copyedited by G.P. Wilson 

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