Boao Asia Forum 2022 focuses on 6 areas

The Boao Forum for Asia opened today in Hainan province, China with the theme “World in COVID-19 and beyond: Global Development Together and Shared Future”.

This year’s forum focuses on six areas, including COVID-19 pandemic control, global economy, green recovery and sustainable development, digital economy, global governance, and progress of Asia regional cooperation, with more than 30 activities. In particular, the content of environmentally friendly green economic development was emphasized at the forum.

China also displayed more than 300 new energy vehicles and charging devices to introduce countries to efforts in transforming the green economy. The comments set out the specific roles of the government and businesses in ensuring the goal of carbon neutrality.

According to a report from the International Monetary Fund, the pace of economic integration in Asia has been maintained despite the pandemic causing heavy losses. IMF forecasts 2022, Asia’s economic growth is forecasted at 5.2%. This organization has just lowered China’s growth rate in 2022 from 4.8% to 4.4% due to the impact of COVID-19.

Many factors affect growth in Asia such as pandemic, debt, supply of key products. However, the IMF also believes that services trade integration in the Asia-Pacific has been particularly strong, becoming a new driving force for the world economy.

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