Attendees of Boao Forum highlights confidence in China's economic outlook

China's steady economic growth emerged as one of the most discussed topics among 50 plus sessions held during this year's Boao Forum for Asia (BFA) Annual Conference 2025, as forum attendees expressed strong confidence in China's economic trajectory and its growing appeal to global investors.

"I have a strong belief in the China market as well as the China economy. And we are now building one of the largest petrochemical company in Fujian that is going to start in the second half of next year," said Abdulrahman Al-Fageeh, CEO of chemical giant Saudi Basic Industries Corporation.

"We believe that China is extremely important worldwide. And as a European company based in Italy, we think that we need to be close to this market and to this country," said Jaime Anchustegui Melgarejo, a member with the Board of Directors at the Italian insurer Generali Group.

"Since we are an advisory and consulting company, we are assessing, of course, the chances of us moving from Europe where we work, the UAE in the Gulf region toward Asia. Of course, if we come to Asia, China would be our preferred destination," said Temir Porras, managing director of the Global Sovereign Advisory.

Some attendees also highlighted China's commitment to high-level opening up as a key driver of global economic progress in promoting open, inclusive, and balanced development with mutual benefit.

"Thanks to the [Free Trade] Agreement [with China], Cambodia can enjoy a [zero] tariff on about 97 percent [of its exports to China]. China has opened up wider to Cambodia concerning trade, not only in agriculture and manufacturing sectors, but also in science and technology with a relatively large space for development," said Svay Nakry, Cambodia's Undersecretary of State for the Ministry of Commerce.

Themed "Asia in the Changing World: Towards a Shared Future," the four-day forum, which started on Tuesday, has drawn nearly 2,000 attendees from more than 60 countries and regions to participate in more than 50 events.

Founded in 2001, the BFA is a non-governmental and non-profit international organization committed to promoting regional economic integration and bringing Asian countries closer to their development goals.

Often referred to as the "Asian Davos," the forum brings together political and business leaders to discuss trade, investment and technology, with growing participation from Global South countries in recent years.

Attendees of Boao Forum highlights confidence in China's economic outlook

The new China-Mongolia cross-border railway is expected to serve as a new bridge for boosting connectivity between the two countries, Chinese Foreign Ministry spokesman Lin Jian said in Beijing on Thursday.

China and Mongolia held a groundbreaking ceremony on Wednesday to mark the official launch of construction on the Gantsmod–Gashuunsukhait rail project, which will be the second cross-border rail link between the two countries.

Lin said at a regular press briefing that the railway would inject new momentum into the development of China-Mongolia bilateral relations.

"On May 14, China and Mongolia held a ceremony to mark the official groundbreaking of the Gantsmod-Gashuunsukhait cross-border railway, which is the second cross-border railway between the two countries. Expanding cooperation in key areas such as economy and trade, energy, mining and connectivity is an important common understanding between President Xi Jinping and Mongolian President Ukhnaa Khurelsukh. In February this year, Premier Li Qiang and Mongolian Prime Minister Luvsannamsrai Oyun-Erdene jointly witnessed the exhibiting of the cooperation agreement on the Gantsmod-Gashuunsukhait railway and coal trade," said Lin.

"The construction of this cross-border railway is not only a concrete step of implementing the important common understanding between the presidents of the two countries, but also an important action to synergize the Belt and Road Initiative and Mongolia's Steppe Road Program. We hope this railway will serve as a new bridge for China-Mongolia connectivity, fostering deeper development integration, promoting industrial synergy, and expanding visits and exchanges, thereby injecting new impetus in to the building of a China-Mongolia community with a shared future," he said.

New cross-border railway to enhance connectivity between China, Mongolia: FM spokesman