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Heavy Spending for Boao Asia Forum Venue Expansion
A total of eight billion yuan ( about 964 million U.S. dollars) will be spent in the expansion of Boao, the venue of the Boao Asia Forum, in south China's Hainan Province in three years.
Sources from the developer, Hainan Boao Investment (Holdings) Co., Ltd., said the money would be used to build an environment- friendly international conference center and tourism resort, with a full range of facilities.
In three years, Boao will be able to accommodate three million forum participants and tourists annually, said company sources.
Chen Jinhua, China's chief representative of the Boao Asian Forum, urged the developer to ensure the harmony between man and nature in carrying out the project, which he said should highlight the Asian culture.
He led a team experts to Boao late last month to discuss further development and construction plans.
The Asia Forum was launched in Boao, Qionghai City of Hainan, on February 27 this year, attracting leaders from 25 Asian countries and from Australia.
It serves as a platform for high-level dialogue where representatives of different Asian countries discuss issues concerning regional economic development, population and the environment in Asia.
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