Fo­rum to gather global in­sights

China Daily (Latin America Weekly) - - Page Two - By CHEN JIA and LI XIANG in Bei­jing and CHEN WEIHUA in Wash­ing­ton Con­tact the writ­ers at chen­jia@chi­

The up­com­ing Boao Fo­rum for Asia an­nual con­fer­ence will be a plat­form for global po­lit­i­cal and busi­ness lead­ers to share in­sights on China’s eco­nomic openingup, the Belt and Road Ini­tia­tive and fos­ter­ing in­no­va­tion, which will be the fun­da­men­tal driv­ers for cre­ation of new growth en­gines for the world econ­omy, ex­perts say.

Since this year marks the 40th an­niver­sary of China’s re­form and openingup, the fo­rum is ex­pected to wit­ness a se­ries of new mea­sures, es­pe­cially for a fur­ther open­ing of the fi­nan­cial sec­tor, when it is held in South China’s is­land prov­ince of Hainan from April 8 to 11.

With a theme of “An Open and In­no­va­tive Asia for a World of Greater Pros­per­ity”, par­tic­i­pants are also ex­pected to dis­cuss key is­sues re­lated to glob­al­iza­tion, the Belt and Road Ini­tia­tive and in­no­va­tion.

Xu Hong­cai, an econ­o­mist with the China Cen­ter for In­ter­na­tional Eco­nomic Ex­changes, said fo­rum par­tic­i­pants will likely fo­cus on fur­ther push­ing glob­al­iza­tion and avoid­ing pro­tec­tion­ism.

“China’s Belt and Road Ini­tia­tive will be a fo­cus for dis­cus­sion again this year, as the ini­tia­tive is China’s so­lu­tion and wisdom for em­brac­ing glob­al­iza­tion and to gen­er­ate new growth op­por­tu­ni­ties for the global econ­omy,” Xu said.

Pol­i­cy­mak­ers and ex­perts are also likely to dis­cuss do­mes­tic struc­tural re­form, as many govern­ments seek so­lu­tions to en­er­gize do­mes­tic economies and cre­ate more jobs, he added.

Chris­tine La­garde, man­ag­ing di­rec­tor of the In­ter­na­tional Mon­e­tary Fund, will visit China from April 9 to 12. She will at­tend and speak at the fo­rum in Boao.

La­garde will then go to Bei­jing for a meet­ing on the Belt and Road Ini­tia­tive on April 12. The meet­ing, jointly spon­sored by the IMF and the Peo­ple’s Bank of China, the cen­tral bank, will be at­tended by par­tic­i­pants from the pri­vate sec­tor, gov­ern­ment and academia to dis­cuss var­i­ous as­pects of the ini­tia­tive, ac­cord­ing to Gerry Rice, IMF’s di­rec­tor of com­mu­ni­ca­tions.

Yuan Chen­g­long, CEO of Up Fi­nan­cial Co, which pro­vides on­line as­set man­age­ment ser­vices, said the fo­rum of­fers “a sig­nif­i­cant chance to deepen co­op­er­a­tion be­tween Chi­nese and for­eign en­ter­prises, es­pe­cially in the new era, when more Chi­nese fi­nan­cial com­pa­nies will seek de­vel­op­ment abroad and an in­creas­ing amount of for­eign cap­i­tal will en­ter the do­mes­tic fi­nan­cial mar­kets.”

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