Boao Forum: Pursuing Green Recovery

By Tang Xiangyang

Published: 2010-04-13

This year's Boao Forum for Asia (2010) ended the evening of April 11th.

The forum, with the theme of "Green Recovery: Asia's Realistic Choice for Sustainable Growth", has attracted over 2,000 people involved in politics and finance from Asian countries and all over the world.

Xi Jinping, Vice Chairman of the People's Republic of China, pointed out in a speech that Asia should not only maintain its economic development and drive the growth of the world economy, but it must also improve its development model and pursue green and sustainable development with Asian characteristics in accordance with global trends.

Xi's view was echoed by Rasmussen, the Premier of Denmark. He said, the world financial crisis forced us to search for a new way to solve problems. So green recovery, as well as green growth, have become part of the new way. He went on to say that this crisis has also exposed some domestic opportunities [which] implore us to use more low-carbon technology, low-carbon energy and environmentally-friendly technology to promote the development of a green economy.

This year's Boao Forum elected Yasuo Fukada, former Premier of Japan, as its new Director-General and Zhou Wenchong, former Ambassador to the U.S, its new Secretary-General. Currently, the positions belong to Ramos, former President of the Philippines and Long Yongtu who greatly contributed to China's entry to the World Trade Organization.

Responding to a recent wide spread rumor that the People's Bank of China (PBC) will lift its required reserve rate soon, Zhou Xiaochuan, President of the central bank, said the foremost task of the PBC is to stabilize the value of the RMB to prevent inflation and an over-extended credit scale.

"Who said [the central bank will] increase the reserve rate?" Zhou questioned reporters.

The Boao Forum for Asia was established in Hainan Province in 2001. As a non-governmental, non-profit organization, it has become a platform for leaders from Asia and other regions to conduct dialogue on important issues concerning Asia and the whole globe.

Fukada has suggested the topic of next year's Boao Forum to be: "How to Ride Out the Period of Economic Transition". (如何度过经济转型期）

Links and Sources:
Official website of Boao Forum for Asia: (Chinese)
Media reports: 央行行长周小川回应加息猜测反问谁说要加息了(Chinese)
Xi Jinping's speech: (Chinese)
News 163: image