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The Boao Forum Released the "2018 Annual Report on Asia Competitiveness", the "Belt and Road Initiative" Promoted the Economic Integration

The "2018 Annual Report on Asia Competitiveness" which was released by the Boao Forum for Asia on April 8, pointed out that in 2017, the momentum of the Asian regional economic cooperation increased instead of decreased under the background of surging current of reversing the globalization and reemerging of the trade protectionism and the "Belt and Road" Initiative became an important motive force in the Asian regional economic integration.

 

In recent years, the "Belt and Road" Initiative has become the focus of attention of the different parties. At the Conference of Economic and Trade Cooperation of the “Belt and Road”  held during the 2017 Beijing International Fair for Trade in Services, Wang Jiaqiong, President of the University of  International Business and Economics expressed that " the sustainable development has become the new mode of development of the contemporary China".  Wang Jiaqiong expressed that how to use the existing international cooperation mechanisms to enhance the consistency of the policies of sustainable development of the countries along the “Belt and Road” through the forms such as the strategic docking is a question worthy of in-depth discussion.

 

The "2018 Annual Report on Asia Competitiveness" pointed out that in 2017, the dividend of the "Belt and Road” Initiative centrally appeared, which tamped the social foundation of the Asian regional economic integration. First of all, the “Belt and Road" Initiative has provided more jobs and higher incomes. The Chinese enterprises have built 56 economic and trade cooperation zones in more than 20 countries, creating nearly USD1.1 billion tax revenue and nearly 180,000 jobs for the countries concerned.

 

The Report also presented that the formation of the Asian regional large single market has been accelerated under the push of the “Belt and Road” Initiative. The multilateral cooperation mechanisms such as the Shanghai Cooperation Organization, the “16+1” cooperation mechanism of China and Eastern Europe, the cooperation mechanism of free trade among China, Japan and South Korea, “10+1” of China and ASEAN, the APEC and China-Arab Cooperation Forum are promoting their respective economic development strategies to dock the "Belt and Road” Initiative of China to form larger scale free trade zones with the "Belt and Road" as the backbone.

 

In addition, the Report evaluates the competitiveness of 37 Asian economies. From the perspective of comprehensive competitiveness ranking, the rankings of the overall competitiveness of the "four dragons of Asia" of Singapore, Hong Kong of China, Korea and Taiwan of China are the same as that in 2016, still ranking the first to fourth respectively. The ranking of China remains the ninth for five consecutive years. From the perspective of economic growth potential and its contribution to the world economic growth and the healthy economic operation, China's overall economic vitality and competitiveness are ranked the first. China's overall score is down because of the slowdown of economic growth, but the growth rate of nearly 7% has brought considerable increments, which is still important for pulling the world economic growth.