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BOAO, Hainan — Whether it be durian from Thailand, bananas from the Philippines, passion fruit from Vietnam, longan from Cambodia or coffee from Malaysia, more and more agricultural products from ASEAN countries are being well-received by Chinese households, thanks to better China-ASEAN cooperation in agriculture.
China has been ASEAN's largest trading partner for the past 13 years, and trade in agricultural products plays a vital role, said Kao Kim Hourn, ASEAN secretary-general at the Boao Forum for Asia annual conference late last month.
Kao said China and ASEAN have launched many trade deals in agricultural products such as grains, meats, vegetables and fruits, and conducted personnel and technical exchanges.
Representatives at the forum from China and ASEAN countries widely recognize that the two sides have deepened their agricultural cooperation in a comprehensive manner.
Fruitful achievements have been made by China and ASEAN in terms of investment and trade, scientific and technological exchanges and cooperation, food security, green and sustainable development of agriculture, and intergovernmental policy coordination, which makes a significant contribution to fostering a closer China-ASEAN community with a shared future.
China's agricultural investment in ASEAN countries accounts for 40 percent of its total overseas investment in the sector. The trade volume of agricultural products between China and ASEAN reached $61 billion in 2022, topping other countries and regions worldwide, according to Sui Pengfei, director-general of the international cooperation department under China's Ministry of Agriculture and Rural Affairs.
China's General Administration of Customs said nearly 1,500 kinds of agricultural and food products from ASEAN have been exported to China. High-quality agricultural varieties and technologies from China have also boosted the development of agricultural industries in ASEAN countries.
The Chinese Academy of Tropical Agricultural Sciences has cooperated with ASEAN countries to carry out projects such as new variety breeding, green and efficient cultivation technology demonstration, and intensive processing of tropical agriculture products, said Xie Jianghui, deputy director of CATAS.
The academy has signed cooperation agreements with 25 scientific and educational institutions in ASEAN countries, such as Kasetsart University in Thailand and Royal University of Agriculture in Cambodia.
A total of 50 agricultural technology training courses have been held in ASEAN countries by CATAS. Eight cassava varieties cultivated by the academy have been promoted in Southeast Asia, with a total planting area of more than 10 million mu (67,000 hectares).
South China's Hainan province is building several cold chain logistics and trading centers to process and store tropical agricultural products for ASEAN to strengthen connections between the two tropical-product markets.
In recent years, Hainan and ASEAN countries have jointly carried out research and development and utilization of excellent tropical fruit and vegetable resources while deepening cooperation in the planting and processing trade, seeing a steady increase in imports and exports of tropical agricultural products.
Hainan will make good use of the free trade port system and the Regional Comprehensive Economic Partnership to promote deep integration of industrial chains, supply chains and value chains between China and ASEAN countries, said Xie Jing, vice-governor of Hainan province.
China mainly exports fish, garlic, citrus, apples, condiments and other products to ASEAN and imports fruits, vegetable oils, aquatic products, grains and other primary agricultural products from ASEAN. Sui Pengfei said if the two sides keep improving their trade level, the related trade volume in agricultural products may reach $100 billion in the next five to seven years.
Representatives to the forum also said China and ASEAN should cooperate in setting standards for planting and processing tropical agricultural products and enhancing food security.
Executive Director of the Federation of Indian Chambers of Commerce and Industry Atul Dalakoti is a firm believer in globalization and the need for countries to be outward-looking.
"There's a win-win when we trade more, invest in each other and our economies are more connected to each other," Dalakoti said at the Boao Forum for Asia held between March 28 and 31 in Hainan province.
In an exclusive interview with China Daily, he said that as two engines of world economic growth, China and India need to strengthen ties.
The two countries should focus on increasing bilateral trade and work closely to grow their economies, as well as expand the exchange of products and services.
Dalakoti said it is important for the world to pay attention to the recent spate of banking crises in the United States and Europe, which seem to be escalating.
"How we are going to move forward, how we are going to increase bilateral trade and investments, and what role China is going to play in this whole thing, that's a very important question which everybody wants to learn more about," he said.
Dalakoti added that people should work hand-in-hand, governments and companies to look at the opportunities available to create a win-win situation, economic growth and green growth, and lift people out of poverty in many nations. "I think (that is) the desire of all of us," he said.
He noted that bilateral trade between India and China moved toward $200 billion in 2022.
"Together, we have 2.8 billion people and we are neighbors for good," Dalakoti said. "We need to work on our relationship. We need to make it better, be more economically engaged with each other, and invest and trade more."
At the same time, he noted that India has a demographic advantage because it has a younger population, which offers a great opportunity for the nation.
Dalakoti said that almost one in every two Indians has one Chinese mobile phone, with brands such as Xiaomi, Vivo and Oppo being the most popular. This suggests that Indians welcome Chinese products.
"We should trade more. China should also diversify its import basket to India … I think the sky is the limit for these two countries," Dalakoti said, adding that in the 17th and 18th centuries, workers of the two countries were contributing to 75 percent of the world economy.
Dalakoti said that the expectation from this year's Boao Forum is that people want clarity on the major issues facing the world today.
This means "clarity of what the way forward is, what the challenges are, what solutions are available and how they should be looked at".
Dalakoti said it is great to be back at the Boao Forum this year. He added that it is good to see friends at the forum again, to discuss challenges facing the world and how to develop the economies of the countries they represent.
"The getting-together of minds and talking in a nice environment — I think that is the best thing to happen for all of us," the director said.
At a news conference in late March during the annual Boao Forum for Asia, Hainan province announced that Hainan Free Trade Port will start the preparatory work this year for achieving independent Customs operations by 2025, triggering a big wave of online and offline discussions over the issue, which experts said indicates the influence and attractiveness of Hainan FTP's building progress.
By 2025, the FTP will provide global traders benefits such as zero tariffs and other preferential policies facilitating imports and exports, while residents and consumers in the FTP will enjoy related benefits brought by smooth global trade.
Meanwhile, amid the preparation for such a mode, efforts will be made to manage trade connections between the FTP and other regions in China, which mainly target issues concerning the coherence of trade policies such as duty differential.
The two-end policies reflect considerations for preparation concerning both foreign and domestic trade affairs, said Li Shijie, head of the Hainan Institute of Open Economic System.
With the launch of the policies, any goods not banned by Hainan can be traded with favorable policies between parties from any country or region under the local Customs' special supervision, which will "allow the province to realize a high level of free trade with the rest of the world", Li said.
Also, by then, global commodities purchased by other regions in China through Hainan FTP will be under closer watch and will still be subjected to domestic trade rules. Additional duties and taxes may be imposed under such circumstances, Li added.
"The independent Customs operations will promote trade and help Hainan participate more in the international arena," said Yang Lin, a member with the office for deepening overall reform at the Communist Party of China Hainan Provincial Committee.
"Foreign-funded enterprises will enjoy greater convenience, such as in-person exchanges, capital flows and information networks. This is unparalleled in other parts of the Chinese mainland," said Zhan Shengjie, general manager of the H2D Business Hub Incubator, a company in Hainan dedicated to providing professional services for the new generation of overseas Chinese and foreign-funded enterprises seeking entry into the Chinese market.
"Hainan FTP will become a preferred landing place for European and US enterprises seeking to enter the Asian market," Zhan added.
Because many goods will be imported to Hainan duty-free, FTP residents will enjoy more choices and lower prices, Li said.
In addition, individuals with ordinary passports from 59 countries can enjoy visa-free entry to Hainan FTP, which Li said will help attract more foreign talent to the FTP.
"It will be more convenient not only for tourists from other Chinese regions but will also attract more foreign tourists to buy duty-free goods in Hainan," said Liu Jia, assistant general manager of the Global Premium Duty Free Plaza.
Implementing independent Customs operations in Hainan FTP is a milestone project in its progress and Hainan will ramp up hardware efforts this year to build a solid foundation for the official implementation by 2025.
"Hainan FTP should avoid potential risks in trade, investment, finance, data security and public health following the implementation," Li said.
China now contributes more to global growth than any other country, said Martin Jacques, a senior fellow at the United Kingdom's Cambridge University, adding it has taken the baton from the United States and become a powerhouse in the global economy.
"If you subtract China or take China out of the growth of the (global) economy, the growth picture would be very different. Everywhere, every country would be poorer if China hadn't made this extraordinary contribution," he said at the annual Boao Forum for Asia, in Boao, in China's southern island province of Hainan, last week.
More importantly, he said that China has offered a new model of modernization rather than the "universal" Western model. He also expressed views similar to those of some other experts that Chinese modernization has the common features of modernization while incorporating some elements suited to China's conditions.
In the 19th century, at a time when there were only a few industrialized countries, the growth of the US economy made a big contribution to the development of the world economy, including that of Europe.
Without the contribution of the US in different ways, for instance, technological developments and the use of cars would not have become so widespread, he said.
Jacques said China is now making an extraordinary contribution to global growth, but in different ways from that of the US. He said it is important to remember that in the 19th century, only a small part of the world was industrialized or modernized.
Even by the middle of the 20th century, the picture was not very different. But the picture has changed dramatically now, he said.
"I should say that the Western view was that there was only one way of modernization, or one way to modernity — that was Western modernity," Jacques said.
He recalled that the characteristics of China's modernization after the reform and opening-up were inevitably a combination of borrowing from the experience of other countries that were further down the road to modernization, such as Western countries, Japan, and South Korea.
He described the phase of China's development as a hybrid model, which was essentially borrowing from others' experience and applying it with enormous creativity.
China has now arrived, in key areas, more or less at the same technological level as one of the most advanced countries in the world. He said the question is what the next stage of modernization will be like.
On this point, Jacques believes that the perspective now for China is to embark on a modernization path that has got much stronger and carries specific Chinese characteristics.
"You always have to learn; however advanced, you must learn. …But in the next stage, I think, Chinese modernization (will be) a very potentially creative phase of offering the world a new kind of modernity," said Jacques.
China's role in the development of Asia is fundamental, and really how Asia will perform in the coming year or five years depends hugely on how well the Chinese economy does, he added, because China is such a huge exporter and importer, and also increasingly a provider of capital.
Relations between Brazil and China are expected to move to a higher footing, as the two countries prepare to celebrate the 50th anniversary of diplomatic ties next year, according to Alessandro Golombiewski Teixeira, former economic adviser to the president of Brazil.
Golombiewski Teixeira, also Brazil's former tourism minister and former deputy minister of development, industry and foreign trade, told the media on March 30 that both China and Brazil can help other nations. He was attending the Boao Forum for Asia Annual Conference 2023 in Boao, Hainan province.
Describing trade cooperation between Brazil and China as "strong and winning", he said the two sides enjoy complementary aspects in their trade relations. China imports soybean, beef, oil, sugar and iron ore from Brazil, with chemicals and electric cars going the other way, he said.
Both countries belong to BRICS — the group that also includes Russia, India, and South Africa. He said the BRICS has an important mission of giving voice to developing countries and will have a bright future as it expands into BRICS Plus.
He noted that BRICS will strengthen multilateralism because all its five members believe in multilateral institutions, and in sharing a vision and common prosperity.
He said that some countries would like to lead the world to war, but China is not one of them. Our world needs peace and China has shown its will for that to the global community, he said. "Without peace, you don't have anything. Can you talk about poverty and inequality and development when a country is destroyed?"
Brazilian President Luiz Inacio Lula da Silva recently postponed a planned trip to China over health reasons but Golombiewski Teixeira said that he hopes Brazil — which represents 40 percent of the Latin American economy — has the chance to join the Belt and Road Initiative when the visit takes place.
"BRI is an important cooperation mechanism in the world," he said, adding that he sees it more as a platform for countries working together rather than a simple project.
Talking about China's Global Security Initiative, or GSI, Golombiewski Teixeira recalled that he was at the Boao Forum For Asia last April when Chinese president announced the GSI.
To him, the GSI and the Global Development Initiative, or GDI, are "two sides of the same coin".
It is very important that more companies enter the Brazilian market. He cited the car industry, where Chinese brands have changed Western-led perceptions to become popular. "Now, people are going crazy with the Chinese cars, such as BYD and Great Wall (Motors)," he said.
An important way to see the partnership is that China has different waves of investing in Brazil, he said. It started with infrastructure, then electronic companies, such as Midea and Hisense, and now it is a new stage where Chinese tech companies are in Brazil.
"Brazil is one of the largest markets for TikTok and Kuaishou in the world, which is a good thing. Also, companies like BYD, like Tencent are getting more into the Brazilian market because there are a lot of similarities with the Chinese market," he said.
Apart from Chinese e-commerce companies entering into Brazil, he said that Brazilian companies are also coming to China. Noting that the central banks of China and Brazil recently concluded an agreement to trade in their own currencies, he said financial collaboration can help countries better sail through financial crises, such as facing the impact of the banking turmoil in the US and Europe.
Editor's note: Chinese Premier Li Qiang on Thursday delivered a keynote speech at the opening plenary of the Boao Forum for Asia Annual Conference 2023.
Your Excellencies Heads of Government,
Your Excellencies Heads of International Organizations,
Your Excellencies Members of the Board of Directors of the Boao Forum for Asia,
Distinguished Guests,
Ladies and Gentlemen,
Friends,
It gives me great pleasure to join you in the beautiful Hainan island for the Boao Forum for Asia Annual Conference 2023. Let me begin by extending, on behalf of the Chinese government, warm congratulations on the opening of the Annual Conference, a hearty welcome to all participating guests, and sincere appreciation to you all for your longstanding care and support for China's development.
The theme of this year's Annual Conference, "An Uncertain World: Solidarity and Cooperation for Development amid Challenges", is highly relevant to our times and responsive to our shared concerns. In a world of turmoil and transformation, humanity is faced with unprecedented challenges. Instability, uncertainty and unexpected developments have become the norm. Amid the momentous shifts where uncertainty abounds, people yearn for more and stronger forces of certainty to drive the world to a brighter future.
Ten years ago, President Xi Jinping put forward the vision of building a community with a shared future for mankind. Later, he expounded China's proposition on this vision at this Forum and on many other international occasions, and went on to propose the Global Development Initiative (GDI), the Global Security Initiative (GSI) and the Global Civilization Initiative (GCI). These initiatives are China's proposals for global development and governance. Over the past ten years, China has taken concrete actions to advance the building of a community with a shared future for mankind, and achieved a series of major outcomes. The high-quality Belt and Road cooperation, in particular, has helped developing countries achieve faster development and opened up new space for the growth of the world economy. Meanwhile, China has made productive efforts as a major responsible country to champion political settlement of crises, resolve international hot-spot issues, facilitate peace talks and de-escalate tensions. These are the real steps that China has taken to build a community with a shared future for mankind. What has happened shows that the vision of a community with a shared future for mankind has become a banner that guides the trend of the times and human progress, and a source of certainty for lasting peace and shared prosperity in the world.
Asia and the entire world are at a crossroads of history. We must hold high the banner of the vision of a community with a shared future for mankind, and join hands to foster an Asian community with a shared future. We need to work together to build an anchor for world peace, a source of impetus for global growth, and a new pacesetter for international cooperation, to add certainty to world peace and development and shape a better future for humanity.
First, working together to maintain a peaceful and stable environment for development to bring greater certainty to the fluid global environment. Peace is the prerequisite for development. Without a generally peaceful and stable environment, Asia's remarkable progress in the past several decades would not have been possible. To achieve greater success, chaos and conflicts must not happen in Asia. Otherwise, the future of Asia would be lost. The Five Principles of Peaceful Coexistence and the Bandung Spirit, which were developed nearly 70 years ago, encapsulate the wisdom of the Asian people. The Asian Way of mutual respect, consensus-building and accommodating the comfort levels of all parties provides the fundamental guide for countries to pursue development through cooperation. The more turbulent the world is, the more important it is for us to cherish these invaluable assets and firmly safeguard the hard-won peaceful environment. We need to stay committed to good neighborliness and amity, support ASEAN centrality in East Asian cooperation and work with a strong sense of togetherness in face of difficulty to keep Asia peaceful and stable. We need to implement the GSI, uphold the vision of common, comprehensive, cooperative and sustainable security, oppose wanton use of unilateral sanctions and long-arm jurisdiction, reject taking sides, bloc confrontation and new Cold War, address differences and disputes through peaceful means to jointly uphold world peace and tranquillity.
Second, working together to build a more vibrant center of growth to bring greater certainty to world economic recovery. Asia, with nearly 60 percent of the world's population, almost 40 percent of the global economy and over 30 percent of international trade, is an anchor and propeller of global growth. We need to implement the GDI, seize the opportunities in the latest round of technological revolution and industrial transformation, foster new drivers of growth through cooperation on the digital economy and green economy, and make Asia a source of impetus for world economic recovery and growth. It is important to deepen regional economic integration and intensify macro policy coordination. We need to pursue high-quality implementation of the Regional Comprehensive Economic Partnership (RCEP), and actively advance negotiations on the new round of China-ASEAN FTA upgrade. We need to develop a regional structure on the division of labor that draws on comparative strengths and advances win-win cooperation, and work to foster a big regional market of greater openness. We need to build an open world economy, promote high-quality Belt and Road cooperation, further liberalize and facilitate global trade and investment, oppose trade protectionism, decoupling or cutting supply chains, keep global industrial and supply chains stable and smooth, and inject strong dynamism into the global economy.
Third, working together to expand effective ways for enhanced solidarity and cooperation to bring greater certainty to the shifting global governance. Today's world is a global village where the futures and destinies of all countries are closely intertwined. The many global issues confronting humanity need to be addressed through consultation by all. Last year, Asian countries successfully hosted the BRICS Summit, the Leaders' Meetings on East Asian Cooperation, the G20 Summit and the APEC Economic Leaders' Meeting, playing an important role in improving global governance. We need to keep to the approach of extensive consultation, joint contribution and shared benefits to exercising global governance, take an active part in reforming and building the global governance system, and firmly uphold the UN-centered international system and the international order based on international law. We need to deepen cooperation on food, energy, environmental protection, disaster prevention and relief, climate response and poverty reduction, jointly make a strong call for peace and development, and send a positive signal of upholding multilateralism to make the global governance system more just and equitable.
Fourth, working together to pursue deeper and more substantive people-to-people exchanges to bring greater certainty to the interactions among civilizations. Not long ago, President Xi Jinping proposed the Global Civilization Initiative, providing an important direction for advancing inter-civilizational exchanges and mutual learning, and promoting the progress of human civilization. Asia is a showcase of cultural diversity where different civilizations enrich and inspire one another. Meanwhile, Asian countries are at different development stages, with developing countries accounting for the majority. Each country has its unique history, culture and national condition. We wish to work with all parties to implement the GCI and open up new prospects in people-to-people exchanges and cultural interactions that bring our peoples closer. We need to uphold mutual respect and trust, embrace openness and inclusiveness, respect the development paths that countries choose on their own, and reject the notion of "clash of civilizations" and ideological confrontation. We need to promote the common values of humanity, and increase exchanges in culture, education, and health among our young people and the media. We need to increase understanding and trust through sincere communication, and properly handle disagreements and problems in the spirit of seeking common ground while setting aside differences, to create a model of sound interactions among different civilizations.
Ladies and Gentlemen,
Friends,
As the world's largest developing country, China's development itself has global impacts. While focusing on running our own affairs well, we in China have followed the trend of the times of peace, development, cooperation and mutual benefit, and have been a builder of world peace, a contributor to global development and a defender of international order. China has created the twin miracles of rapid economic growth and enduring social stability, which in itself is a contribution to the world. In this uncertain world, the certainty that China offers is an anchor for global peace and development. This has been the case in the past, and will remain so in the future.
Looking ahead over the longer run, there is certainty in the goals and prospects of China's development. The 20th National Congress of the Communist Party of China (CPC) held last October drew up a blueprint for China's future development. The Congress made it clear that by the middle of the century, the central task of the CPC is to lead the Chinese people of all ethnic groups in a concerted effort to realize the second centenary goal of building China into a great modern socialist country in all respects and to advance the rejuvenation of the Chinese nation on all fronts through a Chinese path to modernization. The modernization that China aims to achieve is the modernization that involves a huge population and features common prosperity for all, material and cultural-ethical advancement, harmony between man and nature, and peaceful development. We will not pursue such modernization through war, colonization or plunder, but peace and development to bring our entire 1.4 billion-plus people into a modern society. This will create powerful impetus for economic growth in Asia and beyond. Accomplishing this central task requires long, persistent efforts. In this process, no matter how the world situation may evolve, we will stay committed to reform, opening-up and innovation-driven development. We will continue to inject new vigor and vitality into the global economic development, and welcome countries around the world to share in the opportunities and benefits that come with China's development. I believe a China that is stable and dedicated to development, a China that is down-to-earth and pressing ahead with fortitude, and a China that is confident, open and sharing will surely be a strong force for global prosperity and stability.
Looking at the near term, both the dynamism and momentum of China's growth are strong. In the first two months of this year, the Chinese economy showed an encouraging momentum of rebound. Major indicators, including consumption and investment, picked up. Employment and prices were broadly stable. Market expectations improved notably. The manufacturing PMI has remained above the 50-point mark. Several international organizations have revised up their forecasts for China's growth this year. Perhaps more telling than the statistics is the actual situation on the ground. Take Hainan, the seat of the Boao Forum, for example. In the past, tourism usually boomed during the week of the Spring Festival holiday. Now we are seeing the "golden tourism week" extending to "golden month" and even "golden season" as the island sees a steady inflow of tourists and a sustained boom in offshore duty-free sales. It is a good indicator of the resilience, potential and vibrancy of the Chinese economy. It is also strong proof that the fundamentals underpinning China's long-term growth are robust and China's economic and social policies are sound and effective. Going forward, we will continue to prioritize stability, seek progress while maintaining stability, consolidate and build on the momentum of recovery and work for sustained and overall improvement in the economic performance. We will combine the strategy of expanding domestic demand with deepening supplyside structural reform to make China's market even bigger. We will roll out new measures to increase market access, improve the business climate and ensure the delivery of projects to create a better institutional environment that enables SOEs to take new initiative, private companies to break new ground and foreign companies to make new investment. We will effectively prevent and defuse major risks, safeguard the overall stability of China's financial sector in particular, and guard against systemic risks. We have the confidence and ability to sail the giant ship of the Chinese economy steadily ahead against all winds and waves, and make even greater contributions to the global economy.
Ladies and Gentlemen,
Friends,
There is another big event in Asia this year. That is the 19th Asian Games to be held in Hangzhou of China this autumn. The pandemic may have postponed the Games, but it also made us look even more forward to this rendezvous. The coastlines in Hainan and the West Lake in Hangzhou are just two of the many beautiful places across China. We welcome you to visit more places. Where there are scenic areas, there is new economy and business opportunities for win-win cooperation. I am confident that as we join hands to meet challenges through cooperation, and promote development with an open and inclusive mind, we will bring greater certainty to Asia and the world, and usher in an even brighter future for humankind.
To conclude, I wish this year's Boao Forum for Asia a full success.
Thank you.
Chi Fulin, head of Hainan-based China Institute for Reform and Development, opened up to China Daily as he expressed his concerns and passion for Hainan's development in an interview.
Chi explained how Hainan, a southern tropical island, can benefit from the Free Trade Port on the sidelines of the Boao Forum For Asia that concluded on Friday.
Sitting down together with China Daily reporter Chen Bowen, Chi said he has seen both the forum and the Free Trade Port as impetus for Hainan's future as a trade hub in RCEP.
A higher level of international cooperation is needed to enhance the resilience of the biopharmaceutical industry to ensure better preparation for future health emergencies and the well-being of humanity, experts and business leaders said.
The remarks were made during a panel discussion on "Biopharmaceutical Innovation and the New Path of International Cooperation" at the Boao Forum for Asia Annual Conference 2023, which was held in Hainan province from March 28 to 31.
"By promoting development through international cooperation, we can enhance the resilience of the industry and provide solid protection for health," said Qin Xiaoling, director-general of the Department of Science, Technology and International Cooperation at the National Medical Products Administration of China.
Building resilience is not only about the safe use of drugs, but also the high-quality development of the pharmaceutical industry, which requires a balanced approach to safety, health and development, Qin said.
Qin also said this will require proper policies, technological support and international cooperation.
Wang Xiaodong, member of the National Academy of Sciences in the United States and a foreign associate of the Chinese Academy of Sciences, said one of the biggest differences in the industry in recent years is that people have now realized that China has risen to be a major global player.
During the COVID-19 pandemic, Wang said there have been several Chinese companies working on new vaccine development, from recombinant protein to mRNA and of all sorts.
On March 22, China approved its first COVID-19 vaccine based on mRNA technology to be used within the country. The vaccine was developed by domestic drug manufacturer CSPC Pharmaceutical Group.
Wang said he is confident that Chinese companies will be able to make better medicines than those currently available. And when that happens, it will have a global impact as it will help lower the whole cost structure of the industry and make medicines much more affordable.
Improving care
Lim Soeyantho, deputy president director of Indonesian pharmaceutical company Combiphar, said health is important in boosting both productivity and GDP.
Lim said his company is also working to evaluate Chinese vaccines that can improve preventive healthcare in Indonesia, adding that he hopes such production can support other countries in Southeast Asia.
"Basic science has no nationality," Leif Johansson, chairman of biopharmaceutical company AstraZeneca, said. "The more we can cooperate, the more we can learn from each other and the better we will be able to make good medicines."
During the Boao forum, Combiphar signed a memorandum of understanding with Shenzhen Kangtai Biological Products and AstraZeneca, with the aim to promote localized production and commercialization of the Shenzhen company's COVID-19 vaccine and others in Indonesia.
Miao Xiang, president of Shenzhen Kangtai Biological Products, said the cooperation of regulatory authorities from different countries is important for the resilience of the industry.
China is working closely with the World Health Organization in terms of vaccine regulation and has passed a WHO assessment on its vaccine regulatory system, said Qin, adding that this provides a good foundation for Chinese vaccines to go abroad.
Qin said China will continue its health cooperation with the international community in the post-pandemic era.
"All of these efforts are aimed at making sure good medical products, wherever they are developed, can be rolled out quickly for global use," he said.
Officials and experts attending the Boao Forum for Asia Annual Conference 2023 called for enhanced financial regulation to fend off potential risks and boost innovation in the finance sector in the digital finance era.
"In the era of digital finance, regulatory concepts, technology and capabilities must keep up (with the development trend) to ensure financial innovation does not come at the cost of financial stability, which will enable sustainable progress," said Xuan Changneng, deputy governor of the People's Bank of China, the central bank.
Xuan told a roundtable meeting at the annual conference on Friday that the Chinese government has always attached great importance to the digital economy.
Citing the Report to the 20th National Congress of the Communist Party of China, he said China has pledged to accelerate the development of the digital economy, further integrate it with the real economy and improve infrastructure construction as well as strengthen and refine modern financial regulation.
He noted that while the digital economy has changed the format, scenes and ways to provide financial services, the essence of finance has not changed, posing high challenges to financial regulation.
According to Xuan, effective financial regulation serves as a key financial infrastructure as well as a fundamental institutional arrangement to ensure the stable operation of digital finance. More efforts should be made to improve regulatory systems that are compatible with the digital economy and invest in the application of the digital technology in the finance sector.
"Technological updates are fast, with new technologies emerging every few years," said Zhou Xiaochuan, vice-chairman of the Boao Forum for Asia. "Changes in technology and applications in various fields lead to significant changes, which is a characteristic of the new digital era."
When it comes to digital currency, Zhou, who is former governor of the PBOC, said the definition of digital currency should not be based on someone's own ideas and market players should not be so eager to become the winner-takes-all.
During the same meeting, Lu Lei, deputy administrator of the State Administration of Foreign Exchange, said data and information processing will face a new era, which will bring about generative artificial intelligence.
China and ASEAN will strengthen cooperation in many areas, and explore the great potential for cooperation between Hainan province and ASEAN countries in tropical agriculture, said guest speakers at a sub-forum held on Wednesday during the Boao Forum for Asia Annual Conference 2023.
"The dialogue focuses on China-ASEAN tropical agriculture cooperation, which matches this year's theme," said Xie Jing, vice-governor of Hainan province, while addressing the forum. "The Hainan free trade port has served as a hub between the Chinese mainland and ASEAN, the two most active markets worldwide. Hainan's location also puts it first and foremost when it comes to the China-ASEAN partnership."
The ASEAN-China Summit last year designated 2023 as the Year of Agricultural Development and Food Security Cooperation between China and ASEAN.
ASEAN has become the largest foreign trade partner of Hainan, with trade volume increasing last year by 58 percent year-on-year to 39.5 billion yuan ($5.7 billion), accounting for nearly 20 percent of the total trade in goods of Hainan, data from the province showed.
Zero tariffs, rules of origin and value-added processing policies could be included in both the free trade port and RCEP systems to promote the exchange of goods and production factors between China and ASEAN, and realize deeper integration of regional industrial, supply and value chains, Xie suggested.
China mainly exports niche products or raw materials such as fish, garlic, citrus, apples and condiments to ASEAN, and imports primary agricultural products like fruits, vegetable oils, aquatic products, crops and yams, according to Sui Pengfei, director general of the Department of International Cooperation of the Ministry of Agriculture and Rural Affairs.
"We really need to focus on raising the value level of our trade," he said.
Djauhari Oratmangun, ambassador of the Republic of Indonesia to China, said he heard that durian is being planted in Hainan this year, and people in ASEAN countries love to eat durian, and both sides can take this opportunity to effectively create a consumer market for agricultural products.
"We need to further discuss production and processing standards for tropical fruits and tropical agricultural products," he added.
Qu Sixi, the representative and country director of the United Nations World Food Programme in China, called for China and ASEAN to cooperate more closely and use modern technology to solve the world food problem. He revealed that digital transformation is a priority for the World Food Programme.
"New technologies and data sources can transform agriculture," Qu said. "We are doing everything we can, including relying on metaverse and AI, to build a world without hunger."
"China-ASEAN agricultural cooperation enjoys a solid foundation and broad prospects," said Xie Jianghui, vice-president of Chinese Academy of Tropical Agricultural Sciences.
"Our cooperation mainly focuses on the cultivation of tropical crops, such as China's natural rubber and bananas, and on the cultivation of new varieties, green and efficient cultivation and intensive processing of agricultural products, especially the demonstration and construction of key technology bases," Xie said.
Representatives from different religious backgrounds said at the Boao Forum for Asia Annual Conference 2023 that the world needs religious harmony and mutual learning among civilizations to achieve inclusiveness and coexistence.
Yin Shun, vice-president of the Buddhist Association of China, also the president of the Buddhist Association of Hainan province, said during the forum that ran from Tuesday to Friday in Boao, a coastal town in Hainan province, that the more uncertain the era is, the more we must join hands to find the "definite force" from respective civilizations and religions, work together in harmony, exchange dialogue, and mutually learn among civilizations.
"In that way, we can restore the inner stable order and explore the common value construction of humanity for people in uncertain times.
"All things grow together without harming each other and the rules go hand in hand without contradicting each other," he said.
The 5,000-year-old civilization of the Chinese nation advocated that all countries in the world "have their own beauty and appreciate the beauty of others and achieve the unity of the world". That shows China's determination and sincerity to adhere to peaceful development and promote the construction of a community with a shared future for humanity, he added.
Liu Chengyong, a native German and president of the German Taoist Association, said at a sub-forum on Friday that harmony between people is the first step.
"If you have harmony in your home, you will lead a happy life. So harmony in your personal life is very important.
"The next step is harmony in the country. If all the people in the country are working well together, then the ultimate goal is for all countries to live in harmony."
Liu has been practicing tai chi and martial arts for decades to promote health and fitness. In Germany, he teaches Wudang Kung Fu and health preservation exercises and Taoist culture. He has students from all over the world. In 2007, he came on a pilgrimage to China and studied, practiced and lived as a Taoist on Wudang Mountain.
"The harmony between the belief systems or religions is very important. Sometimes you see there's a harmony in different countries because they are all based on beliefs," he said.
Despite the global economic slowdown, China will not only remain a major manufacturing hub but it will also create employment and boost income growth in the region, notably in South and Southeast Asia, said Ben Simpfendorfer, a partner at consultancy Oliver Wyman.
Simpfendorfer, in an interview at the Boao Forum for Asia Annual Conference 2023, added that over the long term, China's regional role is seen as "quite a constructive development."
He said that there are three main points to consider about the challenges and opportunities facing the Asia-Pacific this year.
First, the risks of a global recession this year are beginning to rise and that potentially impacts export growth from the region, he said. Exports are already contracting in several countries – such as China, South Korea and Singapore – and that is a drag on unemployment, as well as fiscal revenue.
"We need to work our way through that and hopefully see a stronger recovery next year," Simpfendorfer said at the forum in Boao, South China's Hainan province.
Second is the movement of supply chains across the region and regional footprints being reconfigured, he said. Even if there is a slight shift in production out of China into Vietnam and to a less extent India and Indonesia, that is "a positive development in so far it makes the world a more resilient place."
Third, Simpfendorfer said that GDP per capita in South and Southeast Asia has risen to levels very similar to those in China back in 2010. It is around that level that consumers like to start spending on big items such as automobiles or spending on services, he said, and he expects it to result in an upswing in consumer spending.
"That's very positive for the region but also positive for China given that it does export consumer products into the rest of the region," he added.
Simpfendorfer said the supply chain is very important for Asia to deal with challenges, as are commitments to globalization and free trade within the region. He said that this should not only include the movement of capital but the movement of ideas and innovation.
Modernizing manufacturing will increase the ability of local companies to build out regional footprints – through building factories, opening up new digital platforms, e-commerce and digital payments – that will ultimately drive productivity growth across Asia. "It is a very positive trend for long-term growth," he said.
Commenting on China's Global Development Initiative, he said that it mirrored the priorities of many governments around the world and is likely to be embraced.
"As the world's second-largest economy, China's role will obviously be important, and so any additional capacity it can provide, whether that's in terms of aid, in terms of policy support, innovation, all of that should be welcomed," he said.
Trade ties between China and Southeast Asian countries, including Cambodia, will be further deepened thanks to China's growing economy and their joint efforts in promoting free trade, a senior Cambodian official said.
"China is … the driver for economic growth in the region," said Sok Sopheak, secretary of state of the Cambodian Ministry of Commerce.
Citing China's beef imports as an example, which were nearly $20 billion in 2022, Sok said the country is a big market that offers opportunities for its partners to export their quality products.
Sok was speaking to reporters on Wednesday after attending a panel discussion titled Asia-Pacific Regional Cooperation: New Opportunities and Challenges, during the Boao Forum for Asia Annual Conference 2023 in China's island province of Hainan.
The four-day forum, which began on Tuesday, was held under the theme "An Uncertain World: Solidarity and Cooperation for Development amid Challenges".
Sok said he expects countries to continue benefiting from trade with China thanks to its open economic policy.
"It's good for not only Cambodia and ASEAN, but also some other members of the RCEP agreement," Sok said.
Entering into force on Jan 1, 2022, the Regional Comprehensive Economic Partnership is to date the world's largest free trade agreement, comprising the 10 member states of the Association of Southeast Asian Nations and its five major trading partners — China, Japan, South Korea, Australia and New Zealand. The agreement has been ratified by all its members.
In 2022, China's trade with other RCEP member countries reached 12.95 trillion yuan ($1.88 trillion), up 7.5 percent year-on-year, according to data from China's General Administration of Customs.
Sok said he sees opportunities for Cambodia from the country's bilateral free trade agreement with China, which came into effect at the same time as the RCEP.
"After one year of implementation, even though we are still suffering from the pandemic and high oil prices, we still increased our exports to China by around 4 percent," said Sok, adding a similar increase was seen in China's exports to Cambodia.
Chinese investment into ASEAN countries is also increasing rapidly, said Sok, adding that China's investment has helped many infrastructure projects in Cambodia.
China's nonfinancial direct investment in Cambodia was $690 million in the first 11 months of 2022, an increase of 32.7 percent from the previous year, according to the Economic and Commercial Office of the Chinese Embassy in Cambodia.
In addition, Sok said, Cambodia received a lot of assistance and concession loans for developing infrastructure and financing.
"This is some kind of shared future and prosperity between Cambodia and China," Sok said.
As a key consensus reached during Cambodian Prime Minister Hun Sen's visit to China in February, China and Cambodia issued a joint statement on building a China-Cambodia community with a shared future in the new era.
This year marks the 65th anniversary of the establishment of diplomatic relations between China and Cambodia and was designated as the China-Cambodia Friendship Year.
More cooperation and expectations are to come from Brazil and China as both countries marked this year's 50th anniversary of bilateral trade relations, according to Alessandro Golombiewski Teixeira, former economic advisor to the President of Brazil.
Golombiewski Teixeira, also Brazil's former tourism minister and former deputy minister of development, industry and foreign trade, told the media on March 30 that both China and Brazil can help other nations. He was attending the Boao Forum for Asia Annual Conference 2023 in Boao, Hainan province.
Describing trade cooperation between Brazil and China as "strong and winning", he said the two sides enjoy complementary aspects in their trade relations. China imports soybean, beef, oil, sugar and iron ore from Brazil, with chemicals and electronic cars going the other way, he said
Both countries belong to BRICS – the group that also includes Russia, India, and South Africa. He said BRICS has the important mission of giving voice to developing countries and will have a bright future as expands into BRICS PLUS.
He noted that BRICS will strengthen multilateralism because its five members all believe in multilateral institutions, and in sharing a vision and common prosperity.
He said that some countries would like to lead the world to war, but China is not one of them. Our world needs peace and China has shown its will for that to the global community, he said. "Without peace, you don't have anything. Can you talk about poverty and inequality and development when a country is destroyed?"
Brazilian President Luiz Inacio Lula da Silva recently postponed a planned trip to China for health reasons but Golombiewski Teixeira said that he hopes Brazil – which represents 40 percent of the Latin American economy – has the chance to join the Belt and Road Initiative when the visit takes place.
"BRI is an important cooperation mechanism in the world," he said, adding that he sees it more as a platform for countries working together rather than a simple project.
Talking about China's Global Security Initiative, or GSI, Golombiewski Teixeira recalled that he was at the Boao Asia Forum last April when Chinese president announced the GSI.
To him, the GSI and the Global Development Initiative, or GDI, were "two sides of the same coin".
It was very important that more companies enter the Brazilian market. He cited the car industry, where Chinese brands have changed Western-led perceptions to become popular. "Now, people are going crazy with the Chinese cars, such as BYD and Great Wall (Motors)," he said.
An important way to see the partnership is that China has different waves of investing in Brazil, he said. It started with infrastructure, then electronic companies, such as Midea and Hisense, and now it is a new stage where Chinese tech companies are in Brazil.
"Brazil is one of the largest markets for TikTok and Kuaishou in the world, which is a good thing. Also, companies like BYD, like Tencent are getting more into the Brazilian market because there are a lot of similarities with the Chinese market," he said.
Apart from Chinese e-commerce companies entering into Brazil, he said that Brazilian companies are also coming to China. Noting that the central banks of China and Brazil recently achieved an agreement to trade in their own currencies, he said financial collaboration can help countries better sail through financial crises, such as facing the impact of the banking turmoil in the US and Europe.
China is willing to work with Australia to find constructive solutions to related issues through bilateral or multilateral channels, said Wang Shouwen, vice-minister of commerce and China's international trade representative.
The Chinese official made the remarks during a meeting with Tim Ayres, Australia's assistant trade minister, at the Boao Forum for Asia Annual Conference 2023 in Hainan province on Wednesday, according to China's Ministry of Commerce online statement.
Wang acknowledged that China and Australia are significant economic and trade partners who have recently made progress in their bilateral trade cooperation through joint efforts.
However, China is highly concerned about Australia's tightened security review of Chinese companies' investment and operations in the Oceanian country, said Wang, adding that the power of national security should not be abused. China hopes that the Australian side will handle related cases rationally and independently to strengthen Chinese businesses' confidence in cooperating with Australia.
Wang also expressed concern about Australia's anti-dumping and anti-subsidy measures against Chinese goods, emphasizing that China is willing to work with Australia to find constructive solutions to related issues through bilateral or multilateral channels.
He hoped that both sides would continue to create a good atmosphere for China-Australia economic and trade cooperation and promote the continuous development of bilateral economic and trade ties.
An initiative calling for partnerships between free trade zones worldwide was launched on Wednesday at the Global Free Ports Development Forum during the Boao Forum for Asia annual conference 2023.
The Hainan Free Trade Port joined 19 pilot FTZs on the Chinese mainland, and six overseas FTZs, including the Jebel Ali Free Zone in Dubai, South Korea's Jeju International Free City and the Sihanoukville Special Economic Zone in Cambodia.
"The free trade zones are pioneers in the development of their countries and regions, and in deepening international cooperation," said Li Rongcan, chairman of the Hainan Committee of the Chinese People's Political Consultative Conference, said at the forum.
"We hope that the free trade zones can work together to contribute to the strong, sustainable, balanced and inclusive development of the world economy in the post-COVID-19 era."
This year is the 10th year since the establishment of the pilot free trade zone in China and the fifth year since the announcement of a free trade port with Chinese characteristics in Hainan province.
"The Chinese government attaches great importance to the building of free trade zones and implements strategies of upgrading the pilot free trade zones," Li said.
As of 2022, more than 20 pilot free trade zones in China have drawn 18.1 percent of the country's foreign investment and 17.9 percent of its import and export trade. They "play an important role in stabilizing foreign trade and investment," Li said.
In Hainan province, for example, more than 180 policy documents focusing on trade and investment liberalization and facilitation have been implemented, 134 institutional innovations have been introduced. Preferential tax policies and zero-tariff lists have been implemented, and policies and systems for comprehensively deepening reform and opening-up have taken shape.
Tourism, a modern service industry, a high-tech industry and efficient agriculture with tropical characteristics have become the four leading industries in Hainan, accounting for 70 percent of the province's GDP.
Sok Sopheak, secretary of state in Cambodia's Ministry of Commerce, believes business investment, infrastructure construction, technology development and building a talent pool are all important for an FTZ's development.
"We are building a new airport and establishing flight routes to Hainan," he said.
Choi Koon-shum, chairman of the Hong Kong Chinese General Chamber of Commerce, said, "Hainan has two advantages. It can connect to the Guangdong-Hong Kong-Macao Greater Bay Area and to ASEAN countries. Hainan and Hong Kong now cooperate in the exhibition, retail and modern service industries, but education and tourism also have great potential."
Delegate Carl F. Fey, professor of strategy at BI Norwegian Business School, said, "It is a good strategy that Hainan strives to make it easier for businesses to operate all over the island. I think an opportunity for the Hainan FTP is that it places more focus on education, which is needed now more than ever as technology and business practices are developing so quickly."
China's robust economic recovery has boosted our confidence to invest more in the Chinese market, said He Yizhou, Greater China CEO of Australian Capital Equity, during an exclusive interview with chinadaily.com.cn at the Boao Forum for Asia Annual Conference 2023.
The all-around recovery of China's economy helps the international community's stability, and it will also greatly increase confidence in the global economic recovery, said He.
As to the future, he thought as more talent and capital gather in China, a more efficient industrial agglomeration and international division of labor will be formed. Driven by high-standard free trade agreements such as RCEP and CPTPP, the Asia-Pacific will become more and more integrated and develop into an Asia-Pacific community with a shared future.
Click the video to watch more of his insights.
Chinese tech company Tencent Holdings is developing its own ChatGPT-like robot, shared the company's senior vice-president Dowson Tong at the ongoing Boao Forum for Asia.
With the move, Tencent became the latest Chinese tech firm to jump onto the ChatGPT bandwagon, despite Tesla Chief Executive Elon Musk and dozens of other technology leaders called on AI labs to cease training models more powerful than GPT-4.
Tong disclosed that the chat robot will be linked to the company's current social media platforms including QQ and WeChat, as well as Tencent Cloud.
The Boao Forum for Asia (BFA) is holding its annual conference this year from March 28 to 31 in Boao, a coastal town in China's southernmost province of Hainan. Double-carbon, referring to carbon peaking and carbon neutrality goals, is being highlighted during this year's event.
Green development and new energy are drawing a lot of attention while a slew of measures were unveiled in terms of new energy production and commercialization, new energy vehicles, green supply chains and energy storage technologies.
China's economy is poised to rebound this year while ensuring stability, with greater efforts made to embrace economic rebalancing of domestic consumption, higher-end manufacturing and green projects, said a renowned economist.
"Despite a global slump, China's economy is forging ahead at a decent pace as new drivers of economic growth have emerged," said Zhu Min, vice-chairman of the China Center for International Economic Exchanges, at the Boao Forum for Asia's annual conference on Wednesday.
The country's economic growth model, hitherto dependent on investment, real estate and exports, is transitioning to one that will be propelled by domestic consumption, higher-end manufacturing and green projects, he said.
Development of the manufacturing industry must remain front and center, said Zhu, adding that China remains the world's top manufacturing powerhouse, with total value added by the Chinese manufacturing sector amounting to 30 percent of global output.
The current international landscape brought to the fore the significance of a stronger and more competitive manufacturing sector, he said.
"The digital economy, artificial intelligence and other cutting-edge technologies should be applied to the extent possible to scale up the proportion of high-tech products and stabilize the manufacturing sector," Zhu said.
He also noted the key role of consumer spending in driving stable growth, and that the consumption vouchers jointly issued by companies and the government were a highlight.
"The stimulation of policies has a direct bearing on boosting consumption. The joint issuance of consumption vouchers by companies and the government recently has proved to be an effective step," he said. "The private sector has played a vital part in boosting consumption."
On top of these, China's green transition is making rapid progress. As technology advances, new energy investment, power grid reform, and new energy-related infrastructure construction will pick up pace in the years to come, he said.
At the current stage, China will not solely seek high economic growth rates but place a high premium on quality growth featuring high-tech and green development. This is the core competency that enables sustainable and stable economic growth, he said.
China set a GDP growth target at around 5 percent for this year since a stable growth rate is urgent to boost confidence, he said.
Zhu stressed that in a world of great uncertainties and shifting dynamics, the best approach is to prioritize stability. It is part and parcel of China's policy orientation for the time being, including its financial system.
In the context of the collapse of Silicon Valley Bank in the United States and the potential systemic risks it might pose to the global financial system, Zhu said that problems facing small and medium-sized banks in China are completely different.
The failure of SVB, he said, is mostly attributable to the US Federal Reserve's long-term quantitative easing program that was followed by its recent sharp rate hikes totaling 500 basis points, which induced a misalignment of the financial assets of the entire financial system in the US and many European countries.
Small and medium-sized banks in China are in a more complicated scenario as evidenced by ill-defined governance bodies and vague business model positioning, which led to lack of risk management, he said. He, however, hastened to add smaller Chinese banks' situation is nothing like that of SVB and would not trigger systemic risks in China.
Competent departments have gained much experience to address such concerns along the way, and injected more capital into these banks, he said.
