Boao Forum puts cooperation at the heart of Asia's future

By Azhar Azam

Lead: Leaders and policymakers at the Boao Forum for Asia's 25th annual conference delivered a clear message: Asia's path to stability and growth depends on partnership, shared innovation and inclusive development.

Over the years, the Boao Forum for Asia (BFA) has transformed into a high-level dialogue platform for governments, businesses, experts and scholars to jointly discuss the most pressing issues in Asia and the world.

Held annually in Boao, south China's Hainan province, this year's forum brought together participants to address shared challenges and promote economic growth across Asia.

Marking its 25th anniversary this year, the BFA reaffirmed its commitment to deepening regional economic integration and promoting common development among Asian countries. The Asian Economic Outlook and Integration Progress Annual Report 2026, released during the forum, highlighted the resilience and vast economic potential of the continent. Asia's economy is forecast to expand by 4.5%, with its share of global GDP approaching half on a purchasing power parity basis, the report sAId, pointing to the continent's growing influence worldwide.

Equally significant is the strengthening of intra-regional trade dependence, which edged up from 56.3% in 2023 to 57.2% in 2024. This increase reflects a gradual shift toward deeper regional integration as major economies orient their partnerships within Asia itself. China and the Association of Southeast Asian Nations (ASEAN) have been identified as "twin anchors of stability," helping sustain economic momentum and reinforce confidence across the region.

The region, particularly China and ASEAN, continues to be the world's premier destination for foreign direct investment, underpinned by economic resilience, an expanding consumer market and growing appeal for global investors. The region is also emerging as a global hub for artificial intelligence. Through advances in AI research, large-scale deployment and industrial application, China — through cooperative mechanisms like the BFA — is playing a central role in Asia's economic and technological transformation.

Despite headwinds such as unilateralism, protectionism and "de-risking," China has drawn global attention for its high-quality development. Amid efforts to downplay the event's significance, participants at the annual conference said Beijing had injected invaluable stability into global supply chains and that the country's edge in technology would drive exports of advanced machinery.

A robot is pictured during the Boao Forum for Asia (BFA) Annual Conference 2026 in south China's Hainan Province, March 25, 2026. [Photo by Pu Xiaoxu/Xinhua]

China's openness has fostered a strong and dynamic innovation ecosystem. Over the years, the East Asian nation has evolved from the "world's factory" into a global hub for research, development and technological advancement where multinational companies see value in locating their innovation centers. Beyond gaining access to China's vast consumer market, global enterprises recognize China’s pivotal driving role in global industrial and innovation development. They actively leverage the country's unparalleled talent pool, mature integrated supply chains and policy support that encourages technological collaboration and synchronized innovation strategies.

This openness has also created new corridors of cooperation, particularly with countries of the Global South. For multinationals, China not only offers opportunities to broaden their business footprint but also to grow alongside the country. Beyond collaboration with pharmaceutical firms, Beijing has extensively engaged global enterprises from diverse industries and strengthened comprehensive science and technology cooperation with developing nations.

By leveraging China's robust research infrastructure, advanced technology base and regulatory support, global companies can innovate, grow and contribute to shared development across the region.

international leaders are increasingly highlighting China's critical role in building an open, rules-based multilateral trading system and promoting innovation-led, sustainable development amid widening global fragmentation. Singapore’s Prime Minister Lawrence Wong, speaking at the forum, said Beijing has a key role to play in supporting Asia's prosperity and stability. He cited the Hainan Free Trade Port as a "concrete example" of China's commitment to openness and its role in shaping the region's economic architecture.

Praising China's contribution to global development — including through the Belt and Road Initiative — and placing the country at the forefront of emerging areas such as digital and green technologies, Wong called on Beijing to lead the next wave of technological change. As the world explores new areas of cooperation, the BFA has stood out as a leading platform to help maintain the region's competitiveness, advance green growth and create opportunities for mutual development.

An aerial drone photo taken on March 20, 2026 shows a view of the Boao Forum for Asia (BFA) International Conference Center in Boao Town of Qionghai City, south China's Hainan Province. [Photo by Yang Guanyu/Xinhua]

This year's forum took on added significance following China's adoption of the Five-Year Plan (2026-2030), which prioritizes high-quality development, AI, scientific and technological innovation and domestic consumption. As Beijing advances its long-term strategy and pushes into emerging technologies, the BFA served as a key venue for leaders, investors and policymakers to understand China's development priorities. Many see opportunities to leverage its strengths in renewable energy and green technologies to accelerate their own transitions.

Against a backdrop of intensifying tariff disputes and a deepening security crisis in the Middle East, this year's BFA emerged as a platform to advocate for peace, stability and development. Speaking at the forum, China's top legislator Zhao Leji emphasized that President Xi Jinping’s vision and initiatives—including building a community with a shared future for humanity and the four global initiatives—have provided a clear direction for the world amid profound global changes. He reaffirmed Beijing's commitment to openness, improving the business environment and promoting common development. He also urged regional nations to jointly work toward an "Asian security model" that emphasizes dialogue and consultation to resolve conflicts. In doing so, the forum reinforced its role as a venue for Asian leaders and global stakeholders to discuss pathways to maintaining stability and sustaining economic growth.

Asia is navigating an unprecedented phase marked by intense economic and security challenges. At such a critical juncture, the BFA proved more important than ever. By bringing together policymakers, industry leaders and scholars, the forum facilitated meaningful exchanges and helped steer the region's collective response to emerging risks and opportunities. China's sustained commitment to openness, innovation and regional cooperation — and its promotion of peace and stability — provides a solid foundation for deeper collaboration to safeguard regional economies and security.

Ultimately, the BFA delivered a compelling reminder: sustainable growth and stability in the region depend not on competition, rivalry or fragmentation but on strengthened partnerships, shared innovation, and a renewed commitment to inclusive development and lasting peace.

Azhar Azam is a geopolitical analyst with a focus on the economy, climate change and international security.