Boao Report: Asian Economic Growth Expected to Increase to 4.5% by 2025

The Boao Forum for Asia Annual Conference was held in Boao, Hainan from March 25th to March 28th, with the theme of "Creating the Future of Asia Together in the Changing World". On the morning of the 25th, the Boao Forum for Asia released the "2025 Annual Report on Asian Economic Prospects and Integration Process" (hereinafter referred to as the "Report"). The report shows that as one of the main engines of the world economy, the growth rate of the Asian economy is expected to increase to 4.5% by 2025, and the proportion of the world's total economic output measured by purchasing power parity will increase to 48.6%. Asian economies such as China, India, Vietnam, the Philippines, Mongolia, Cambodia, and Indonesia are expected to maintain a relatively high growth rate of over 5%.

Specifically, in terms of trade, the growth rate of Asia's foreign goods trade has gradually rebounded, while service trade has maintained rapid growth, especially China's goods trade and service trade have continued to reach historic highs.

In terms of investment, the dependence of global foreign investment on Asian economies has been fluctuating, reaching around 60% in recent years, while China and ASEAN remain the most attractive Asian economies for foreign investment.

In terms of innovation, Asia's R&D investment intensity and patent application volume far exceed other regions, and it is increasingly becoming the protagonist of global technological innovation. Asia has stood at the forefront of the new round of industrial revolution.

The report states that despite facing many challenges, Asian economies, especially China and ASEAN, continue to demonstrate strong resilience, leading the world in economic growth, trade, innovation, sustainable development, regional economic integration, and nurturing new potential and development space.