Spread the love

By Our Political Analyst

Kathmandu, March 26: China’s annual Boao Forum kicked off in Hainan on Tuesday, March 24, with the forum’s Secretary-General, Zhang Jun, stating that the event is even more meaningful amid escalating global geopolitical tensions. The four-day forum is themed “Shaping a Shared Future: New Dynamics, New Opportunities, New Cooperation” and features around 50 seminars, roundtables, and dialogue sessions.

At a press briefing, Zhang said the plenary conference will focus on areas including promoting multilateralism, strengthening regional collaboration and partnerships, and advancing technological innovation in Asia, particularly artificial intelligence. He also noted that some important guests were unable to attend the summit due to the ongoing conflict in the Middle East.

“We understand the situation,” he said. “Against the backdrop of profound changes in the world order and escalating regional conflicts, we call on all parties to immediately cease fire and return to the path of diplomatic negotiations. We should jointly maintain global peace and stability in order to create a favorable environment for the world economy and global development. Under such circumstances, holding the annual Boao Forum has even greater practical significance,” he added.

Approximately 2,000 representatives from 60 countries and regions are expected to attend the event, including Singapore Prime Minister Lawrence Wong and Kazakhstan’s First Deputy Prime Minister Roman Sklyar. However, the Republic of Korea’s news agency Yonhap reported that the country’s Prime Minister, Kim Min-seok, canceled his planned attendance due to the Middle East crisis.

Senior state official Zhao Leji delivered a keynote speech at the forum on March 26. Zhang also noted that China’s economic development will be highlighted, with one forum focusing on the country’s 15th Five-Year Plan and the theme of “Investing in China.”

Meanwhile, the Global Free Trade Port Development Forum will be held as Hainan marks its first year of operating as a customs territory separate from the mainland, with 74 percent of taxable imports enjoying duty-free status.

The forum also released its annual signature economic reports, forecasting that Asia’s economy will grow by 4.5 percent year-on-year in 2026. While most Asian economies are still in a phase of fiscal expansion, supported by relatively loose monetary policies, the report notes that such policies may be adjusted later in the year due to rising oil prices and inflation expectations.

Nepal Commends Zhao Leji’s Keynote Speech: Boao Forum Injects Certainty into Global Cooperation, Hainan’s Customs Closure Sets a New Benchmark for Openness

Following Chinese National People’s Congress Standing Committee Chairman Zhao Leji’s keynote address at the Boao Forum for Asia Annual Conference 2026, Nepali academicians and media have taken it a positive evaluation of the speech and expresses strong appreciation for the forum’s cohesive role, as well as the promising prospects of the Hainan Free Trade Port following its full-island customs closure.

Chairman Zhao Leji’s remarks delivered “a vital sense of certainty” amid the current complex international environment. He emphasized that, in the face of rising geopolitical tensions and unilateralism, China—through the Boao Forum—has consistently advocated for multilateralism and open, inclusive regional cooperation. This approach injects strong confidence into landlocked developing countries such as Nepal.

He further stressed that this year’s forum theme, “Shaping a Shared Future: New Dynamics, New Opportunities, New Cooperation,” is highly forward-looking. China’s commitment to advancing technological innovation and artificial intelligence governance in Asia, in particular, opens new avenues for South Asian countries to integrate into global industrial upgrading.

This year’s Boao Forum holds special significance, as it is the first major international gathering in Hainan since the Hainan Free Trade Port officially launched its full-island customs operations on December 18, 2025. Hainan has evolved from a beautiful island into a special customs-enclosed zone, implementing a system of “free movement at the first line and controlled movement at the second line.” This represents a landmark step in China’s high-standard opening-up and serves as a model for global free trade ports.

As a close neighbor, Nepal highly values the progress Hainan has made in tourism, modern services, and high-tech industries. We believe that Hainan is becoming an important gateway linking the Chinese mainland to global markets—a development that offers valuable lessons and collaboration opportunities for Nepal, a country rich in tourism resources and eager to attract Chinese investment.

Looking ahead, we are willing to leverage the Boao Forum for Asia platform and the advantages offered by Hainan’s post-closure free trade port to further strengthen cooperation with China in connectivity, green energy, and cross-border trade—transforming the benefits of being “close neighbors” into tangible development outcomes.