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Premier addresses opening ceremony of Boao Forum for Asia

Updated: Mar 24,2016 10:14 AM     Xinhua

Premier Li Keqiang delivered a keynote speech at the opening ceremony of the 2016 annual conference of the Boao Forum for Asia, held in China’s Hainan, on the morning of March 24.

The theme for this year’s conference is “Asia’s New Future: New Dynamics and New Vision.”

Eight years have passed since the occurrence of the international financial crisis, but its profound impacts have not been eliminated, the Premier said.

The recovery remains uneven in the emerging economies and sluggish in the developed ones, Premier Li said.

Premier Li said the issue of insufficiency and imbalance still exists in Asia’s development, and some countries are facing problems, such as decline in exports, rise in debt, slowing economy and even substantial currency devaluation and accelerating capital outflows. Some people say that Asia’s economy has been in a difficult period in recent years.

Although the situation is not optimistic, the confidence is unshakable, the Premier added. Asia has seen better days after surviving two financial crises. Most countries in Asia have used the experience to strengthen their real economy and fight against financial risks while making remarkable achievements in regional cooperation.

The Premier said that last year, Asia’s economic growth rate was higher than the world’s average level, with its proportion in the world economy witnessing an increase and trade volume reaching about one-third of the world trade. All of these make Asia the most dynamic region in the world.

The Boao Forum for Asia (BFA) opens the 2016 annual conference in Boao, South China’s Hainan province, March 24, 2016.[Photo/Xinhua]