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AIIB, 'Belt and Road' initiative took center stage at Boao Forum

Reporter: Ai Yang 丨 CCTV.com

03-30-2015 04:11 BJT

Full coverage: 2015 Boao Forum

Full coverage: China’s Leaders

The 2015 Boao Forum for Asia concludes in the southern Chinese island province of Hainan. It's an annual gathering of leaders from government, business and academia to share their vision on the most pressing issues in Asia and the world.

As its theme "Asia's New Future: Towards a Community of Common Destiny" indicates, the 2015 Bo'ao Forum for Asia focuses on mutual interest and win-win cooperation of all Asian economies.

Over the past four days, world leaders, business executives and scholars exchanged opinions on a diverse range of issues.

Participants from 49 countries and regions took part in more than 70 sessions of discussions. Chinese President Xi Jinping addressed the opening ceremony, and presented his views on economic matters.

Chinese President Xi Jinping addressed the opening ceremony, and presented his views on economic matters.

Chinese President Xi Jinping addressed the opening ceremony, and presented his views on economic matters.

"We should push forward with the creation of a regional hub for financial co-operation, strengthen pragmatic cooperation in monetary stability, investment, financing, credit rating and other fields," he said.

Russian First Deputy Prime Minister Igor Shuvalov, speaking after Xi, announced his country’s plans to join the Asian Infrastructure Investment Bank or AIIB, an open initiative proposed by China.

On Saturday, Russia, along with Australia and the Netherlands became the latest three countries to announce plans to join the AIIB. As the AIIB's structure expands from regional to global, more heads have turned and stances softened.

"Even with Europe coming into the infrastructure bank. We see China agreeing to take on some of the concerns. AIIB will hopefully develop into an institution that bring about a higher standard," said Josette Sheeran, president and CEO of US Asia Society.

Some say the forum is a forward looking platform, a platform where companies can make their policies in the backdrop of regional policies.

Political concerns were also addressed at Boao. Chinese leaders took the opportunity to allay fears that China will use the 21st century Maritime Silk Road project as a geopolitical tool to manipulate neighboring countries.

In one of the sessions, Chinese State Councilor Yang Jiechi assured guests, China is willing to put aside political disputes and focus on economic and human centric cooperation when it comes to ocean exploration. The initiative has been welcomed.

With each passing year, as the agenda becomes more pragmatic, more people are drawn to it.

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