**Working Together to Meet Global Challenges
And Build a Shared Asian Home**
Keynote Speech by H.E. Ding XuexiangVice Premier of the State Council of the People’s Republic of ChinaAt the Opening Plenary
Of the Boao Forum for Asia Annual Conference 2025
Boao, March 27, 2025
Your Excellencies State and Government Leaders,Your Excellencies Heads of International Organizations,Your Excellencies Members of the Board of Directors of the Boao Forum for Asia,Distinguished Guests,Ladies and Gentlemen,
Friends,
It gives me great pleasure to meet you on the beautiful island of Hainan for the Boao Forum for Asia Annual Conference 2025. On behalf of the Chinese government, I wish to extend warm congratulations on the opening of the annual conference and a sincere welcome to all the distinguished guests. Let me also express heartfelt appreciation to all of you for your long-standing care and support for China’s development.
This year marks the 10th year since President Xi Jinping called for building an Asian community with a shared future. Ten years ago, right here in Boao, President Xi delivered a keynote speech titled “Toward a Community with a Shared Future and a New Future for Asia.” I was in the audience and still have fresh memories of his key conclusion that “only when the world prospers can Asia prosper, and only when Asia prospers can the world prosper,” and the important principles he outlined
on how Asia could move toward a community with a shared future. When visiting other Asian countries and speaking at major events such as the Conference on Dialogue of Asian Civilizations, President Xi built on that and elaborated on the Asian security concept, Asian values, and Asian modernization. These ideas add new substance to the vision of building an Asian community with a shared future and represent China’s proposals for promoting cooperation and development in Asia.
Over the past decade, thanks to our collective efforts, significant progress has been made in building an Asian community with a shared future. China and ASEAN have established a comprehensive strategic partnership. The Regional Comprehensive Economic Partnership (RCEP) has entered into effect. Regional economic integration is progressing with solid steps. Connectivity networks among Asian countries are improving, boosted by the implementation of landmark Belt and Road projects such as the China-Laos Railway, the Jakarta-Bandung Railway, and the China-Pakistan Economic Corridor. The Asian Infrastructure Investment Bank (AIIB) has been launched and is making more impact through providing active financing support for relevant projects. Asia’s share in the global economy is rising steadily. Asia, while pursuing its own development, is also making significant contributions to the common development of the world.
Ladies and Gentlemen,
Friends,
Even as we speak, changes of the world, of our times, and of historic significance are unfolding in unprecedented ways. Our world is experiencing far greater instability and uncertainty. It is essential that we work in concert to promote the building of a community with a shared future for mankind, meet global challenges, build a shared Asian home, and usher in a brighter future for Asia and the world. To that end, I would like to make four proposals.
**First, strengthening solidarity and cooperation through greater mutual trust.** A high degree of mutual trust is a must for building an Asian community with a shared future. We should champion the Asian values built around peace, cooperation, inclusiveness and integration, uphold and carry forward the Asian Way of mutual respect, consensus building, and accommodating the comfort levels of all parties, respect each other’s core interests and major concerns, keep building common ground and mutual trust, and jointly create a big Asian family of solidarity and progress. We should resolutely defend true multilateralism, safeguard the U.N.-centered international system and the international order underpinned by international law, and make global governance more just and equitable.
**Second, promoting economic globalization through openness and integration.** Openness, cooperation and economic globalization are essential for building an Asian community with a shared future. After decades of development, Asia has become the world’s most dynamic region with the greatest growth potential, due in no small part to the choice we have made to open our doors and integrate into the world. We should jointly safeguard the free trade system, uphold open regionalism, and firmly oppose trade and investment protectionism. We should make full use of regional cooperation mechanisms in East Asia and the Asia Pacific, push for high-quality implementation of the RCEP, work toward the signing of the China-ASEAN Free Trade Area 3.0 Upgrade Protocol, and promote regional economic integration and connectivity. In this way, we will contribute to an open world economy through Asia’s openness and integration, and make economic globalization more mutually beneficial and inclusive.
**Third, promoting prosperity and development through mutual benefit and win-win cooperation.** Common development is the goal of building an Asian community with a shared future. We should pursue a development-first policy, deliver on the Global Development Initiative, actively improve people’s livelihood, and strive to achieve the U.N. Sustainable Development Goals. Building on the rapid progress of the ongoing technological revolution and industrial transformation, Asia is moving steadily to the forefront of the world in artificial intelligence, big data, and new energy. We should strengthen cooperation on science, technology and innovation, and promote the sharing of technological achievements to better support the development of all countries. We should make good use of financing platforms like the AIIB and the Silk Road Fund to provide more support for sustainable development in Asia and around the world.
**Fourth, safeguarding tranquility and stability through peaceful coexistence.** Peace and stability is part and parcel of building an Asian community with a shared future. At present, Asia remains peaceful and stable on the whole. Its stabilizing role in the global landscape must be dearly cherished. We should pursue the vision of common, comprehensive, cooperative, and sustainable security in Asia, act as builders and guardians of regional peace, and make sure that Asia continues to be a land of peace and stability.
This year marks the 80th anniversary of the victory in the Chinese People’s War of Resistance Against Japanese Aggression and the World Anti-Fascist War, the 80th anniversary of the founding of the U.N., and the 70th anniversary of the Bandung Conference. We should work together to uphold the purposes and principles of the U.N. Charter, promote a correct understanding of World War II history, and carry forward the Bandung Spirit. This entails resolving differences and disputes through dialogue and consultation, and fostering an environment of security for all.
Ladies and Gentlemen,
Friends,
This year will wrap up the implementation of China’s 14th Five-Year Plan. At the recently concluded NPC and CPPCC sessions, our lawmakers set out plans for this year’s economic and social development. I understand many of you might be interested in where China’s economy is heading, and look to China to provide more certainty to the global economy. Let me use this opportunity to make three observations.
**First, the Chinese economy is growing steadily with a stronger outlook.** Despite a surge of difficulties and challenges, our economy grew at a rate of five percent last year. China ranks among the world’s fastest-growing major economies, and accounts for around 30 percent of global growth. In January and February, our economy got off to a steady start: the key indicators of industry, consumption, and investment all grew faster than 2024, continuing the upward momentum shown in the fourth quarter of last year. The growth target for this year is set at around five percent. It is based on rigorous projections and methodical planning, underpinned by China’s growth potential and favorable conditions, and supported by robust policy measures. We will enforce more proactive and effective macro policies, stimulate domestic demand across the board, actively stabilize foreign trade and investment, double down on the healthy development of the property sector and the stock market, effectively prevent and defuse risks in key areas, and do our best to fulfill this year’s goals and tasks for economic and social development. China is confident of realizing these goals and will contribute to development in Asia and the world.
**Second, the Chinese economy is remaking itself, with a growing capacity to drive growth through innovation.** China’s firm commitment to an innovation-driven development strategy has led to a notable boost in our innovation capacity, and a successful transition from old to new growth drivers. This has not only helped us tide over economic difficulties, but also lifted our medium- to long-term growth prospects and potential. You may have seen Chinese tech companies unveil their latest humanoid robots and large AI models, boosting momentum in their own sector and confidence in the market. They are success stories achieved through a persistent effort to develop new growth drivers in the Chinese economy. We will move faster toward greater self-reliance and strength in sophisticated science and technology, facilitate the integrated development of technological and industrial innovation, and foster and expand emerging and future industries, even as we transform and upgrade the traditional industries. Today, the pursuit of high-quality development has become a nationwide consensus, and the drive to develop new quality productive forces and spur innovation has become a widespread trend. In my view, apart from the rapidly-developing new energy vehicles, other sectors such as AI, biomanufacturing, quantum technology, and low-altitude economy will also thrive across China. They are not only opportunities for China, but also opportunities for Asia and the world.
**Third, China is deepening reform and opening up across the board to deliver a more pro-business environment.** The Third Plenary Session of the 20th CPC Central Committee laid out a master plan for further deepening reform comprehensively to advance Chinese modernization. We will accelerate the implementation of landmark reform measures, better leverage the leading role of economic structural reform, and refine institutions and mechanisms to better support high-quality development. The private sector is a dynamic force in advancing Chinese modernization; its rapid growth in recent years testifies to the strong dynamism of the Chinese economy. At a recent meeting on developing the private sector, President Xi Jinping made important remarks that resonated strongly with the audience and beyond. The process of enacting a private economy promotion law is being fast-tracked, and the law is expected to provide a better legal environment for the development of the private sector.
Opening up is a distinct hallmark of Chinese modernization. No matter how the external environment changes, China will open wider to the world. We will steadily expand institutional opening up, further improve market access for foreign investors, and expand trials to open sectors such as telecommunications, medical services, and education. We aim to offer a first-rate business environment that is market-oriented, law-based and internationalized, and will carefully study and address issues raised by foreign-invested companies relating to access to production factors, license application, standards setting, and government procurement. We will expand voluntary and unilateral opening up in a well-ordered way, and further increase the breadth and depth of China’s opening up. We warmly welcome businesses from all countries to invest and operate in China, join in the process of Chinese modernization, and share in China’s development opportunities.
Ladies and Gentlemen,
Friends,
The Boao Forum for Asia is a key international platform for open and inclusive exchanges and mutual learning. I encourage you to share your insights, build consensus, and contribute more wisdom and strength to a better future for Asia in a world of profound transformation.
In closing, I wish the Boao Forum for Asia Annual Conference 2025 a full success.
Thank you.