(Photo/Boao Forum for Asia)

The world's attention is today focused on Hainan, as the annual conference of the Boao Forum for Asia (BFA) is raising its curtain in the southernmost province of China.

The annual conference, with the theme "Shared Future, Concerted Action, Common Development", will explore solutions to the current difficulties encountered by economic globalization, such as protectionism and unilateralism, as well as the common challenges faced by both Asia and the world.

The following are the key highlights of this year’s BFA conference.

Openness, multilateral cooperation, innovation

BFA Secretary-General Li Baodong introduced the theme and topics of the 2019 BFA annual conference after discussions between the participating countries, members of the council, relevant enterprises and media, covering the top concerns of each party.

Around 50 official sessions, including the opening ceremony, sub-forums, CEO dialogues and roundtables are expected, categorized into five modules - Open World Economy; Multilateralism, Regional Cooperation and Global Governance; Innovation-Driven Development; High-Quality Development; and Critical Issues.

Li noted that globalization and free trade are the trends of economic development, and multilateralism and dialogues remain the common aspiration of most countries.

“The annual conference will establish an open and inclusive platform of discussion for each participating party, and signal a clear message to the world to build consensus on global governance,” Li said.

Four major academic reports to be released

The annual reports of BFA Progress of Asian Economic Integration, BFA Asian Competitiveness, and BFA Development of Emerging Economies will be released at the annual conference, which is a routine practice of the BFA.

Furthermore, the forum will issue a new report on Asian financial cooperation this year, jointly compiled by the BFA Academy and three international organizations in Asia.

BFA Annual Conference 2019 to promote innovation

In recent years, China has used the opportunity of scientific revolution and industrial transformation to promote the booming development of emerging industries, accelerating the upgrade of traditional industries.

The country has contributed over 30 percent to global economic growth for years, with innovation playing a significant role. Innovation, as a source of growth, is not only shaping the new advantages of China’s development, but is also gathering power for the growth of Asia and the world at large.

“Scientific innovation” will become a keyword within the Innovation-Driven Development module of the conference, and 5G, artificial intelligence, and big data will also take precedence in the discussions.

Intelligent Connected Vehicle, one of China's newest technologies, will be tested in Boao, the conference's host city, to better serve the event.

The technology combines the Internet of Vehicles and smart automobiles, and is equipped with advanced sensors and monitors. It can obtain information exchanges among the drivers, vehicles, roads and the system, and make driving safer, more comfortable and energy-friendly.