The Boao Forum for Asia (BFA; Chinese: 博鳌亚洲论坛; pinyin: Bó'áo Yàzhōu Lùntán), initiated by 25 Asian countries and Australia (increased to 28 in 2006), is a nonprofit that hosts high-level forums for leaders from government, business and academia in Asia and other continents to share their vision on the most pressing issues in this region and the world at large.
The forum, sometimes known as the “Asian Davos”, takes its name from the town of Boao, located in China's southern Hainan province, which has been the permanent venue for its annual conference since 2002.
[2] The Forum is committed to promoting regional economic integration and bringing Asian countries even closer to their development goals.
In the past the forum also addressed China's entry into the World Trade Organization, as well as Southeast Asia's economic crisis during the 1990s.
[7][8] The conferences brought together business, industry and political leaders in the region to discuss energy and resource security, development and trade.
[7] Australian Foreign Minister Kevin Rudd stated China will invest US 1 trillion dollars abroad and Australia is in a good position to attract capital to develop new mines, infrastructure to service China's insatiable appetite for energy and resources.
[19] Leaders or deputies from 16 countries, including Armenia, Australia, Austria, China, Indonesia, Kazakhstan, Malaysia, Nepal, the Netherlands, Qatar, Russia, Sri Lanka, Sweden, Thailand, Uganda and Zambia, attended the forum held from 26 to 29 March.
Participants at the annual conference focused on Asia's New future: New Dynamics, New Vision and took part in panel discussions.
Keynote speech was made by Chinese Vice Premier Zhang Gaoli at the opening plenary of the Boao Forum for Asia Annual Conference 2017.
[27]: 134 At the 2021 Boao Forum, Export-Import Bank of China president Hu Xiaolin stated that the interest of both debtors and creditors should be considered in debt suspension.
It is an adjustment made to tackle difficulties at specific times" and that outright cancellation weakens financial stability.