Boao Forum: Shaping a Better Future for the Asian Economy through Cooperation

From March 24 to 27, 2026, the Boao Forum for Asia Annual Conference 2026 was held in Boao, Hainan Province. With the core theme of “Shaping a Shared Future: New Circumstances, New Opportunities, New Cooperation,” the conference brought together approximately 2,000 representatives from political, business, and academic circles from over 60 countries and regions to engage in in-depth dialogue on Asia’s economic transformation and breakthroughs, sending a clear signal of Asia’s continued leadership and win-win cooperation in the global economic landscape. As the first annual conference since the forum’s 25th anniversary and the full operation of the Hainan Free Trade Port, this grand event not only forged a consensus on Asian economic recovery and upgrading but also injected certainty and positive energy into the global economy through pragmatic measures.

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Key Data Confirms Asia’s Economic Resilience
The “Asian Economic Outlook and Integration Process 2026 Annual Report” released by the forum provides a clear picture of Asia’s economic development: In terms of purchasing power parity, Asia’s GDP is projected to account for 49.7% of the global economy, up from 49.2% in 2025, with a projected growth rate of 4.5% in 2026, significantly higher than the global average, remaining the undisputed core engine of global economic growth. Against the backdrop of a complex and volatile external environment, the Asian economy demonstrates three core advantages: First, a solid foundation for regional trade integration, with regional trade dependence increasing from 56.3% in 2023 to 57.2% in 2024. China and ASEAN serve as “anchors of stability” for the regional economy, and deeply integrated industrial and supply chains provide a strong barrier against risks. Second, Asia remains the most favored region for global direct investment, with increasingly active outward investment activities, transforming Asia from a “receiver of funds” to an outward investor.

Four Key Consensus Points Guiding the Path of Asian Economic Cooperation
Participants at the conference, focusing on core issues of Asian economic development, reached four key consensuses, pointing the way for industrial transformation and regional synergy:

Upholding Open Cooperation and Breaking Down Barriers. Abandoning closed, exclusive, and unilateralism, advocating inclusive economic globalization, and deepening regional integration are crucial for jointly maintaining the stability and smooth operation of Asian economic industrial and supply chains. This is a core prerequisite for Asian economies to withstand external shocks and achieve sustainable growth.

Focusing on Digital Empowerment to Activate New Growth Drivers. “AI + Digital Empowerment for Industrial Upgrading” became a hot topic. Participants generally agreed that digital transformation is a core lever for improving the quality and efficiency of the Asian economy. It requires comprehensively promoting the integration of digital technologies with the real economy, accelerating the application of cutting-edge technologies such as artificial intelligence and quantum technology, and fostering new types of productivity.

Promoting Green Transformation and Strengthening the Low-Carbon Foundation. Around the sub-forum “Accelerating Green Transformation: Paths and Actions,” all parties reached a consensus to build a green development system for the Asian economy, focusing on renewable energy deployment, low-carbon technology research and development, and the cultivation of green industries, to help the region achieve a win-win situation of low-carbon transformation and sustainable development.

Deepening connectivity and improving governance systems. Strengthening the synergy between “hard infrastructure” and “soft connectivity,” enhancing cross-border infrastructure construction, deepening alignment in rules and systems, and improving global economic governance will help the RCEP unleash greater potential and support the continued rise of Asian economies in the global value chain.

China’s Responsibility Helps Asian Economy Achieve Steady and Sustainable Development

As a crucial pillar of the Asian economy, China demonstrated its firm commitment to cooperation and pragmatic development measures at the forum, injecting strong momentum into the Asian economy. China explicitly proposed adhering to innovation-driven development, accelerating high-level technological self-reliance, focusing on cultivating emerging and future industries, aiming to enter the top ten globally in the innovation index for the first time by 2025, and possessing the world’s largest renewable energy system, providing support for the technological upgrading of the Asian economy; continuously expanding institutional openness, with the Hainan Free Trade Port becoming a new gateway for opening up to the outside world through full island customs clearance, steadily improving the quality and level of trade and investment cooperation, and jointly building the “Belt and Road” with high quality, creating a platform for Asian countries to share the dividends of the Chinese market; at the same time, China actively participates in Asian economic regional cooperation, with the total trade value with ASEAN continuing to grow, deepening cooperation in areas such as industrial chain synergy and infrastructure connectivity, becoming an important driver of regional economic integration.

Opportunities and challenges coexist; the Asian economy needs to work together to break through current limitations
While the Asian economy has demonstrated strong resilience, the forum report also clearly points out that it still faces multiple challenges: geopolitical conflicts, rising protectionism, and the “de-risking” of supply chains exacerbate external uncertainties; some regions face unemployment pressures and deteriorating development financing; and structural contradictions such as population aging and internal development gaps urgently need to be addressed. However, the Asian economy also possesses five major historical opportunities: digital and green transformation, deepening connectivity, and the broadening of innovative financing channels, indicating that its future growth potential remains enormous.