The Boao Forum for Asia (BFA) has become more indispensable than ever in today's fast-evolving global landscape, according to Tan Kong Yam, an Emeritus Professor of Economics with the School of Social Sciences, Singapore's Nanyang Technological University.
The Boao Forum for Asia 2025 Annual Conference opened on Tuesday in the town of Boao in south China's Hainan Province.
With the theme "Asia in the Changing World: Towards a Shared Future", the four-day forum has attracted nearly 2,000 attendees from more than 60 countries and regions to participate in more than 50 events and many bilateral events, according to the press conference.
"We are currently living through an era of profound global changes, marked by rising geopolitical tension, economic fragmentation, the climate crisis and disruptive technological shift all occurring simultaneously. In such a complex environment, dialog platforms like the Boao Forum for Asia has not diminished in importance, rather they have become even more indispensable than ever before," said Tan.
The BFA provides a distinctive Asian perspective for improving global governance, as well as more opportunities for developing countries and Global South countries to voice their opinions, said Tan.
"Boao has a unique positioning as a high-level dialog platform. Centered on Asia, Boao distinguishes itself from other international forums typically dominated by the West. It provides a valuable opportunity for developing countries, especially those in Asia and the Global South, to make their voices heard. Boao Forum is critical for promoting regional cooperation, especially in key areas such as infrastructure, trade, green development and the digital economy. The forum is a platform for soft power. In an increasingly multi-polar world, Boao helps build trust through dialogs," he said.
Tan also highlighted that Chinese economy shows remarkable resilience, marked by advancements across various sectors, including artificial intelligence.
"The overall outlook for China's economy continues to show strong resilience. Key sectors such as the advanced manufacturing, artificial intelligence, semiconductors and clean energy are receiving robust policy support. The roll-out of the digital renminbi and the development of smart logistics also indicate that China is actively positioning itself for future economic trends. In recent years, China's progress in the field of artificial intelligence has been remarkable. A particular note is the breakthrough achieved by DeepSeek, which stands as a concentrated expression of China's innovation capacity in AI. It is a result of the synergy between China's national technology strategy, vast market scale, institutional advantages and global outreach. It not only signals China's growing global competitiveness in AI, but also position China as a potential driver of the next global productivity revolution," he said.
The BFA was founded in 2001 and offers a platform for dialogue between leaders from government, business, academia and other organizations to discuss economic, social and environmental issues, promote economic cooperation and support the sustainable development of Asia's economy.
Boao Forum more indispensable in current rapidly-changing world: economist
Russia and Ukraine on Friday accused each other of striking energy infrastructure despite pressure from U.S. President Donald Trump to halt such attacks.
Ukraine attacked three Russian oil refineries and a gas-chemical complex on Friday, said Russian Deputy Prime Minister Alexander Novak.
One facility sustained minor damage while Russian air defense systems generally performed as expected, he said.
There was a pause for some time, but Ukrainian attacks on refineries have resumed, and Russian enterprises are working on defense, he added.
Ukraine is ignoring Trump's repeated demands to halt strikes on Russian oil refineries, Kremlin aide Yury Ushakov noted.
The strikes will not complicate preparations for a trilateral meeting between Russia, Ukraine and the United States on the settlement of the Ukraine crisis planned for November, as there are no restrictions on military operations during the preparatory period, said Kremlin spokesman Dmitry Peskov.
Russia does not plan to raise the issue during the upcoming negotiations, he said.
On the same day, Ukrainian President Volodymyr Zelensky said that Russia's operations targeting Ukraine's power generation facilities, electrical grids and energy interconnection infrastructure were continuing.
As Russia has not taken a single step toward de-escalation in the energy sector, Ukraine will continue to respond accordingly, Zelensky added.
In another development, Russian Human Rights Commissioner Yana Lantratova said on Friday that a humanitarian mission in Oleshky in the Kherson region in Ukraine had been completed.
Residents had been given safe passage to leave voluntarily for the destination of their choice -- either Russia or Ukraine, Lantratova wrote on X.
The ceasefire agreement was being fully implemented, with no violations reported, she said.
She said the mission was carried out in coordination with Dmitry Lubinets, Ukraine's Parliament Commissioner for Human Rights.
Lantratova thanked U.S. First Lady Melania Trump for her assistance and coordination efforts, saying such humanitarian missions should be carried out regularly.
The mission had demonstrated that agreements could be reached and solutions found to save lives, she added.
Oleshky is located on the left bank of the Dnieper River, opposite the Ukrainian-controlled city of Kherson. The town has been under Russian control since Feb 2022 and is facing a humanitarian crisis, with shortages of food, medicine and other essential supplies amid continuous fighting.
On Oct 23, Russia and Ukraine agreed to a temporary ceasefire in the area to facilitate aid deliveries and civilian evacuations. The ceasefire is scheduled to remain in effect until 22:59 Moscow time (1959 GMT) on Nov 1, according to the Russian side.
Also on Friday, the U.S. Department of State announced that it had approved the sale of 500 Patriot PAC-3 missiles and related equipment to Ukraine, valued at 2.1 billion U.S. dollars.
Ukraine will pay for this purchase with donations from Canada, Germany and Norway via the JUMPSTART program and national funds, financed by the European Union's Ukraine Support Loan. No U.S. funds are involved in this sale, according to a statement.
The principal contractor will be American defense and aerospace manufacturer Lockheed Martin.
Russia, Ukraine accuse each other of strikes on energy facilities
