Chinese president urges Asia to transform development model

2013-04-07 02:30:25 GMT2013-04-07 10:30:25(Beijing Time)  Xinhua English
The Boao Forum for Asia (BFA) Annual Conference 2013 kicks off in Boao, south China's Hainan Province, April 7, 2013. (Xinhua/Jin Liwang)The Boao Forum for Asia (BFA) Annual Conference 2013 kicks off in Boao, south China's Hainan Province, April 7, 2013. (Xinhua/Jin Liwang)
Chinese President Xi Jinping delivers a keynote speech at the opening ceremony of the Boao Forum for Asia (BFA) Annual Conference 2013 in Boao, south China's Hainan Province, April 7, 2013. (Xinhua/Li Xueren)Chinese President Xi Jinping delivers a keynote speech at the opening ceremony of the Boao Forum for Asia (BFA) Annual Conference 2013 in Boao, south China's Hainan Province, April 7, 2013. (Xinhua/Li Xueren)

Asia has become a major growth engine for the world economy but needs to transform its development model, Chinese President Xi Jinping said Sunday.

He made the remarks when delivering a keynote speech at the opening ceremony of the Boao Forum for Asia (BFA) Annual Conference 2013 held in Boao, a coastal town in south China's Hainan Province.

Asia has emerged as an important engine driving world economic recovery and growth, contributing to over 50 percent of global growth in recent years and instilling much needed confidence in the world, Xi said.

What's more Asia's cooperation with other regions of the world at regional and sub-regional levels has great vitality and promising prospects, he said.

However, Asia needs to transform and upgrade its development model in keeping with the trend of the times, the president urged.

"It is important that we should shift the growth model, adjust the economic structure, make development more cost effective and make life better for our people," he said.

Sustaining development is still of paramount importance to Asia, because only development holds the key to solving major problems and difficulties it faces, Xi said.

Global economic recovery remains elusive: Chinese president

Chinese President Xi Jinping said Sunday the global economy has entered a period of profound readjustment and its recovery remains elusive.

He made the remarks when delivering a keynote speech at the opening ceremony of the Boao Forum for Asia (BFA) Annual Conference 2013 held in Boao, a coastal town in south China's Hainan Province.

The international financial sector is fraught with risks and protectionism of various forms is on the rise, Xi said.

Countries still face many difficulties in adjusting economic structure and the global governance mechanisms call for improvement, he said.

"Achieving common development for all countries remains an uphill battle," Xi warned.

Meanwhile, he said countries have become increasingly inter-connected and inter-dependent and the trend of peace, development, cooperation and mutual benefit is gaining momentum.

Chinese president calls for stability, cooperation in Asia

Chinese President Xi Jinping on Sunday called on Asian countries to enhance mutual trust and understanding to ensure regional stability and deepen cooperation.

He made the remarks when delivering a keynote speech at the opening ceremony of the Boao Forum for Asia (BFA) Annual Conference 2013 held in Boao, a coastal town in south China's Hainan Province.

"Stability in Asia now faces new challenges, as hotspot issues keep emerging, and both traditional and non-traditional security threats exist," Xi said.

The Asian countries need to increase mutual trust and work together to ensure durable peace and stability in the region, he urged.

In the meantime, Asia should build on past success and make new progress in promoting cooperation in Asia, the president said.

There are many mechanisms and initiatives for enhancing cooperation in Asia and a lot of ideas on boosting such cooperation are being explored by various parties, he noted.

Asia needs to "enhance mutual understanding, build consensus, and enrich and deepen cooperation so as to strike a balance among the interests of various parties and build mechanisms that bring benefits to all," Xi said.

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Editor: Yu Runze
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