By Qiang Wei, People’s Daily
The Boao Forum for Asia (BFA) Annual Conference 2025 Press Conferencewas held on March 25 in Boao, south China’s Hainan province. The conference unveiledtwo flagship reports: the Asian Economic Outlook and Integration Progress Annual Report 2025, and Sustainable Development: Asia and the World Annual Report 2025 — Addressing Climate Change: Asia Going Green.
Bothreports cast Asia as a stabilizing pillar of the world economy, with green transformation becoming an indispensable driver for sustainable economic development.
Analysts underscored China’s proactive role in spearheading regional growth, economic integration, and green transformation, noting that the nation’shigh-quality development will provide more robust boost to the global economy.
Despite a complex international landscape marred by rising unilateralism and protectionism, “Asian economies, particularly China and ASEAN, are demonstrating strong resilience and vitality,”said BFA Secretary General Zhang Jun.”Asia continues to lead the world in economic growth, goods and services trade, and regional integration, nurturing new potential and fresh opportunities.”
Central to the discussion was the growing influence of the Regional Comprehensive Economic Partnership (RCEP), a free trade area that has brought together the world’slargest population and trade market since its inceptionover three years ago.
The Asian Economic Outlook and Integration Progress Annual Report 2025 observed that by integrating economic and trade cooperation mechanisms in Asia, the RCEP has become an important lever for safeguarding global free trade and promoting regional economic growth.
The International Monetary Fund has predicted that the RCEP region’s GDP will increase by $10.9 trillion from 2023 to 2029, contributing more than 40 percent to global economic growth.
According to the report, Asia’sweighted real GDP growth rate is projected to reach 4.5 percent in 2025, with Asia remaining a key growth engine for the world economy.
Moreover, at purchasing power parity, the region’s share of global GDP is expected toincrease from 48.1 percent in 2024 to 48.6 percent in 2025, said Zhang Yuyan, dean of the School of International Politics and Economics at the University of Chinese Academy of Social Sciences.”We have every reason to be confident in the economic future of Asia,” he noted.
Equally compelling is Asia’sunwavering commitment to sustainability.The Sustainable Development: Asia and the World Annual Report 2025 — Addressing Climate Change: Asia Going Green said that to address climate challenges, the region is pursuing a green transition, integrating both climate action and nature-based solutions to chart a new pathway for resilient and sustainable development.
Helena McLeod, deputy director general at the Global Green Growth Institute, noted that strong policy support, a dynamic innovation ecosystem, and significant investment in new energy vehicles, energy storage, and renewable energy have positioned China – and by extension, Asia – as a frontrunner in green technology research and development.
Investment in clean energy across Asia is on a steady rise. In 2023, China’s clean energy investments accounted for one-third of the global total.Erik Berglof, chief economist with the Asian Infrastructure Investment Bank, lauded China’sachievements in green transformation and technology, describing its progress as a blueprint for sustainable development that other nations might well follow.
With foreign investment continuously flowing into the region, Zafar Uddin Mahmood, policy advisor to the secretary general of the BFA, highlighted Asia’s attractiveness as an investment destination. He noted that China’s proactive approach to openingup and its efforts to coordinate trade across the region are injecting momentum into global economic recovery and sustainable growth.
A survey titled “Global and Asian Economic Confidence”conducted by the forum’sresearch institute revealed widespread optimism about China’s economic prospects. Respondents citedgreen, low-carbon, high-end, and intelligent manufacturing as key drivers of the country’s economic growth in 2025.
BFAchairman and former UN secretary-generalBan Ki-moon noted that in an interdependent global economy, the future hinges on openness and inclusiveness. As economic globalization faces mounting challenges, China’s commitment to high-level openingup remains crucial not just for Asia, but for the world at large, he said.
