Boao Forum Attendees Champion Globalization

By Pan Yingqiu

Boao Forum Attendees Champion Globalization

By Pan Yingqiu

Belt and Road Initiative has key part to play in maintaining global economic recovery, attendees say

Over 200 speakers, 1,800 representatives and government leaders from six countries had communications and discussions on the initiative.

In late March 2017, global movers and shakers in politics and business gathered in Boao in southern China’s Hainan Province for the 2017 Boao Forum for Asia (BFA), once again putting the tropical city in the global spotlight. At the forum, the Belt and Road Initiative was once again a hot topic.

Focus of Discussion

The BFA’s aim and original purpose is to speak for Asia and build Asian consensus. As one of the foremost dialogue platforms for Asia and emerging economies, it has always been committed to promoting regional cooperation, with an aim toward enhancing regional integration.

Besides the keynote discussions on globalization, the Belt and Road Initiative remained a hot topic at the annual conference.

“Over 200 speakers, 1,800 representatives and government leaders from six countries had communications and discussions on the initiative,”said Zhou Wenzhong, secretary general of the BFA.“Growth, reform and economic innovation were explored through the 65 events held over the course of the forum.”

The Belt and Road Initiative concerns not only the sustainable development of the global economy, but also the peaceful transformation and reconstruction of international order and rules. It is the embodiment of peace and development, two important 21st century themes.

Why was the initiative chosen as one of the four special topics covered at the forum? Zhou said since it was first proposed by Chinese President Xi Jinping more than three years ago, the initiative has received positive responses from more than 100 countries and international organizations. China has signed Memorandum of Understandings with more than 60 countries.

Zhou pointed out that in some ways, the initiative is the Chinese version of globalization. If the goals of every country involved can be promoted during the process, a global community of mutual benefit can be achieved.

At the forum, dialogue was held between senior officials and leaders of the countries along the Belt and Road. Additional dialogue was held between ministers and CEOs of these countries. The dialogues were designed to promote the initiative through in-depth cooperation on building a mutually beneficial cooperation network, a new cooperation model and a multi-cooperation platform, as well as enhancing the projects in key areas.

‘Belt and Road’ Complements ASEAN

“China has always had close ties with ASEAN countries,” said Sim Ann, a senior minister at the Singaporean Ministry for Trade and Industry. “The 21st-Century Maritime Silk Road initiative will bring greater opportunities to ASEAN countries. There are no overlapping functions or conflicts of interest between the Belt and Road Initiative and ASEAN. They are completely complementary.”

Sim Ann added that she believes the initiative will strengthen regional economic integration. In Singapore, many enterprises hope they can play an active role in the Belt and Road construction.

Meanwhile, SimAnn said the initiative is also welcomed by the Singaporean government and public sector.

“The China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity, the third cooperation platform established by the two countries, is the best example of this kind of cooperation,”she added. “The first two cooperation projects are the Suzhou Industrial Park and Tianjin Eco-City. The third project is located in Chongqing. It’s an indication of the support and investment we have in the initiative. We hope Chongqing and even the entire western region of China will have a closer connection with Southeast Asia.”

Tourism is another key area of cooperation between China and ASEAN. The year 2017 marks the ASEAN-China Year of Tourism Cooperation.

“We should strengthen interconnectivity, explore new tourism cooperation models and introduce more measures to facilitate tourism by taking advantage of the Belt and Road Initiative,” said Yang Xiuping, secretary general of the ASEANChina Centre, suggesting that dialogue between Chinese and ASEAN governors and mayors could be used to accomplish such goals.

Zhang Wei, deputy mayor of Nanning, capital of southern China’s Guangxi Zhuang Autonomous Region, proposed optimizing entry and exit procedures, hoping to of f er 144-hour visa-free entry and 72-hour visa-free transit for ASEAN tour groups. He said the establishment of flights and other routes linking Nanning and Singapore should be promoted and a golden international tourist route, from Guilin to Nanning and then on to Vietnam’s Halong Bay, should be built.

Chinese Plans for Global Economic Recovery

“The Belt and Road Initiative is a solution to problems related to a lack of global connectivity,” said Portuguese economic minister Manuel Caldeira Cabral at the forum.“The solution proposed by the Chinese government brings new development opportunities to the world and can help build a bridge for global connectivity. Through the 21st Century Maritime Silk Road initiative, we hope to strengthen our two countries’ investment in energy and financial industries and welcome Chinese enterprises to the European market. Also, we will build a cooperation platform for Chinese enterprises and Portuguese energy industries through investment projects in Angola and Brazil. We hope Portugal can become a gateway to link the Belt and Road Initiative with Europe.”

According to the initiative, railways, highways, ports and other infrastructure in countries along the Belt and Road should be linked to remove obstacles to trade and investment.

“The Belt and Road Initiative has taken on a new role in economic globalization,” said Chi Fulin, president of the China Institute for Reform and Development. “It will open up a new arena for the next round of globalization. China needs to accelerate regional bilateral and multilateral free trade to become the initiator, promoter and leader of economic globalization.”