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China's economic resilience amid global uncertainties enhances Boao Forum's global appeal: expert

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China's economic resilience amid global uncertainties enhances Boao Forum's global appeal: expert

2025-03-25 16:57 Last Updated At:18:57

China's economic resilience amid global uncertainties has enhanced the global appeal of the 2025 Boao Forum for Asia, according to Zhu Min, former deputy managing director of the International Monetary Fund (IMF).

Speaking Tuesday during a studio interview with China Central Television (CCTV) on the sidelines of the Boao Forum, which runs from Tuesday to Friday in Boao Town of south China's Hainan Province, Zhu, a long-time participant of the forum and an economic expert, highlighted the evolving context that makes this year's forum particularly crucial.

"I think this year's Boao Forum has attracted attention because of changes in the global economy and the Chinese economy. The global economy has undergone major changes. Firstly, the Chinese economy has stabilized, and we see a large influx of capital flowing in. Secondly, the U.S. economy is facing great uncertainty. Thirdly, at this stage of low global economic growth, emerging Asian economies continue to maintain 4.8-percent growth, compared to the global 2.7 percent, so this is very strong [growth rate for Asia]," he said.

Delegates at the forum will hash out Asia's growing importance in reshaping the global direction on key issues, he stressed.

"I think the first is the form of the global economy. Now, there's a lot of discussion about whether the U.S. economy will enter a recession and whether the Chinese economy has stabilized, especially the prospects for its consumption transformation, and these are things that everyone is very concerned about. Climate change is a very big issue given the fact that the U.S. has withdrawn from the Paris Agreement and how the rest of the world will continue to move forward. Because climate change is a shared global mission, and it's increasingly becoming a major driver of new global economic growth. And Asia will certainly continue to be a leading force," said Zhu.

"But under this enormous uncertainty, global financial market volatility is unavoidable. We've recently seen very large market fluctuations, including the decline in the U.S. stock market and capital flows that are different from before. So, the monetary policies of central banks around the world are another focus of attention," he said.

Under these complex circumstances, Zhu emphasized the increasing importance of boosting cooperation among Asian countries.

"Regional cooperation is becoming increasingly obvious. In the past two years, this trend of regional cooperation in Asia has become increasingly clear. For example, in terms of supply chains, during the process of regional globalization, the whole world is in fact undergoing a realignment of supply chains. But from a regional perspective, Asia's supply chain is gradually taking shape with China's core supply chain as the main one, gradually extending to Asia and integrating with Asia. So, this is a very important aspect," said Zhu.

China's economic resilience amid global uncertainties enhances Boao Forum's global appeal: expert

China's economic resilience amid global uncertainties enhances Boao Forum's global appeal: expert

China's economic resilience amid global uncertainties enhances Boao Forum's global appeal: expert

China's economic resilience amid global uncertainties enhances Boao Forum's global appeal: expert

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8th Digital China Summit lets public experience country's exciting new technologies

2025-04-29 14:51 Last Updated At:15:07

The 8th Digital China Summit kicked off in Fuzhou City of east China's Fujian Province on Tuesday, offering members of the public a chance to interact directly with the country's most cutting-edge technological developments in robotics, AI and other fields.

More than 70 achievements, including the Digital China Development Report 2024 and the National Data Resources Survey Report 2024, were released during the summit, comprehensively presenting the latest progress in China's digital technology innovation, artificial intelligence (AI) application, and data resource development and utilization. Notably, the summit has brought together over 100 esteemed academicians and experts from various fields.

The summit's on-site experience area, which opened one day ahead of the summit, features four major thematic zones with over 100 interactive exhibits. One of the standout exhibits is an AI-powered content creation platform, which is able to generate images, videos, and 3D models through simple sketches or gestures.

"A batch of new technologies, services and products such as AI robots, multimodal large models and trusted data spaces have been presented at this summit, with as many as 65 percent making their public debut. This time, our on-site experience area will be open to the public from April 28 to May 4, allowing the public to experience the achievements of digital China construction in person," said Xue Bo, director of Fuzhou's Municipal Bureau of Data Administration.

The summit organization committee has also set up 46 experience spots for digital application scenarios across Fuzhou, allowing people in the city to see and feel the latest achievements in the realm of digital services.

8th Digital China Summit lets public experience country's exciting new technologies

8th Digital China Summit lets public experience country's exciting new technologies

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