Boao Forum provides platform for fostering economic cooperation: Indian journalist

The Boao Forum for Asia (BFA) has provided a platform for fostering economic cooperation and regional development, said a senior Indian journalist.

The BFA Annual Conference 2025 is set to start on Tuesday in Boao Town, Qionghai City, south China's Hainan Province, with nearly 2,000 representatives from over 60 countries and regions to attend the event.

With the theme "Asia in the Changing World: Towards a Shared Future," this year's event will focus on four key topics: rebuilding trust to promote cooperation, the rebalance of globalization and inclusive development, sustainable development, and the development of artificial intelligence (AI) and innovation.

Ahead of this year's event, China Global Television Network (CGTN) spoke with Mewati Sitaram, Editor-in-Chief of the Mumbai Messenger newspaper. He emphasized the significant roles China and India are expected to play at the upcoming forum.

The BFA has consistently provided a platform for fostering economic cooperation and regional development. Given the current geopolitical landscape, there will likely be a strong emphasis on balancing economic growth with stability, Sitaram said.

"China and India, as two of the world's largest emerging economies, bring unique perspective. China can offer insight into advanced manufacturing, infrastructure, state investment and digital transformation, while India's experience in digital finance, start-up ecosystem and IT service can provide valuable model for inclusive growth. Both China and India have a shared interest in advocating for the Global South and ensuring that Asia's growth remain equitable and inclusive," he said.

Seeing that the digital divide remains a significant barrier to balanced global development, Sitaram said the issue should be addressed through international collaboration and policy making.

"The Global South must be an active participant in artificial intelligence development, not just a consumer of AI-driven product. To safeguard its interests, three key areas need focus. The first area is technology access. Open source, artificial intelligence models and public private partnership can ensure that developing countries have access to cutting-edge artificial intelligence tools. Collaborative research initiative similar to those between India and China in pharmaceutical can be extended to AI and machine learning. Number Two: talent development. Under talent development, AI education and skilling programs must be expanded in emerging economies," he said.

"Third, financial support: International financial institutions and regional development banks should create dedicated fund for AI infrastructure in Global South. China and India can jointly advocate for artificial financing initiative within forums like BRICS, G20 and the AI for good initiative under the United Nations. To bridge the digital divide, international cooperation is essential [for] policymakers to push for AI regulation and ensure use, while also fostering innovation. Infrastructure sharing agreements can help extend digital connectivity to remote areas, ensuring that AI benefits are widely distributed and both countries can have a upper hand in technologies and everything," he added.

Boao Forum provides platform for fostering economic cooperation: Indian journalist

Container bookings placed in the United States for shipments from China jumped 277 percent, seven days after a temporary rollback of reciprocal tariffs between the two countries, container-tracking software provider Vizion said on Wednesday.

The average bookings as of May 14 soared 277 percent to 21,530 20-foot equivalent units (TEUs), compared to 5,709 TEUs for the average for the seven days that ended on May 5, Reuters reported, citing Ben Tracy, Vizion's vice president of strategic business development.

A Shanghai-headquartered international logistics service provider that partners with over 100 major shipping lines globally has also seen momentum pick up in recent days.

It reported that freight rates from Shanghai to the East Coast of the U.S. for a 40-foot container have already climbed to between 4,000 and 4,200 U.S. dollars.

"This chart shows the pricing trend for shipping from Shanghai to the East Coast of the U.S. The yellow line represents the rate for shipping a 40-foot general-purpose (GP) container. From May 15, there's a clear increase of about 500 to 700 U.S. dollars. Between May 15 and May 31, the rates are expected to remain relatively firm," said Lei Lei, a staff member responsible for U.S. and Canada-bound routes at a logistics service platform.

Cross-border e-commerce sellers have moved swiftly in response. Sellers in sectors like furniture, fitness equipment, and mechanical components rush to secure bookings and replenish overseas warehouses within the 90-day "window period." Traditional exporters are expected to reach peak shipping volume after June.

As demand rapidly intensifies, shipping companies are racing to restore routes and bring back capacity.

"By the end of May, we will see a lot of route realignments and the resumption of vessels working overtime. We expect capacity to be back to pre-tariff-hike levels by early June. June and July are usually a modest peak season for U.S.-bound shipments, and combined with previously delayed cargo, freight rates are likely to remain on the rise from late May through early June, and throughout July," said Lei.

U.S.-bound ocean cargo bookings from China surge 277 pct