2019 Boao Forum for Asia focuses on development, innovation

Photo taken on March 25, 2019 shows the International Conference Center in Boao Town of Qionghai City, south China's Hainan Province. The BFA annual conference will be held in Boao from March 26 to 29 under the theme of "Shared Future, Concerted Action, Common Development." [Photo: Xinhua/Yang Guanyu]

This year's Boao Forum for Asia is underway in Hainan, under the theme "Shared Future, Concerted Action, Common Development."

The four-day forum covers various wide-ranging topics such as open economy, innovation-driven growth, high-quality development, multilateralism, regional cooperation and global governance.

Boao sees thousands of delegates taking part in 50 official sessions, CEO talks and roundtable meetings.

Chinese Premier Li Keqiang will deliver a keynote speech at the forum's opening session on Thursday.

Forum Secretary-General Li Baodong says he expects the event will address many of the challenges facing the world economy.

"When deciding on themes and topics for this year, we were impressed by concerns over unilateralism and trade protectionism. We hope the Boao Forum for Asia can do some in-depth thinking on how the world economy will go and how to deal with these challenges," says Li.

Some of these challenges include economic growth, monetary policy and volatility in the international markets.

The forum is designed to provide Asian-based solutions to how economies can ward off a potential slowdown.

Li Baodong also says this year's forum is going to have a focus on the integration of urban and rural areas.

"How can some developing countries achieve urbanization while making villages more beautiful and improving people's living standards at the same time? We hope experts and entrepreneurs can shed light on this field," says Li.

He also says discussion groups are going to be formed to talk about ways to potentially manage and regulate new technologies, including 5G and artificial intelligence (AI).

"For example, how great an impact on jobs will robot application be and may new technologies like AI and drone hurt human's development? The international community should make standards and rules with a foresight and study new problems of global governance beforehand," says Li.

The Boao Forum for Asia was established in 2001, and it has evolved into one of the most prominent economic forums in Asia, often dubbed the "Asian Davos."