Hongqiao Forum hosts lecture event in Hainan

A lecture on coping with the world's changing business environment and leveraging China's new development strategy was held in Boao, Hainan on March 26.

The event was held by the secretariat of the Hongqiao International Economic Forum and the forum's research center.

The Hongqiao International Economic Forum is an important part of the annual China International Import Expo.

During the past three expos, more than 100 participants, including foreign dignitaries, leading industry representatives and scholars, have attended the forum, which has become a key platform for the exchange of ideas and experiences from businesses, governments and academic communities.

At the event in Boao, Sun Chenghai, deputy director-general of the CIIE Bureau, spoke of the preparations for the fourth edition of the CIIE and the Hongqiao forum, including the operational mechanism and the work being performed by members. He also expressed his gratitude to all parties for their support of the preparations for the expo and the forum.

According to Sun, the fourth Hongqiao International Economic Forum will be composed of a main forum and a range of subsections. Guests from the government, industry and academic organizations will be invited to participate in the dialogue, which will be centered on key issues and hot topics in the field of global economic governance.

He welcomed representatives from business and other relevant fields to actively participate in the forum.

During the lecture, keynote speakers interpreted the adjustment of China's development strategy and the changes to the business environment in China and the world based on the 14th Five-Year Plan (2021-25) and the outline of China's long-term development goals for 2035.

Yu Yongding, senior fellow and academician at the Chinese Academy of Social Sciences, pointed out that adjusting the balance of international payments and overseas asset allocation is becoming increasingly urgent.

Yu noted that imports play an important role in adjusting overseas assets, and the CIIE will play a vital part in promoting the expansion of imports, trade balance and the balance of international payments.

Qu Jian, deputy director of the China Development Institute, said China's current business environment is in line with international standards, though an obvious gap still exists between domestic regions.

During the country's 14th Five-Year Plan period, enterprises should attach importance to the adjustment of China's development strategy and the changes to domestic regulations and development layout.

Businesses should also be fully prepared for the adjustments to the business environments in both China and overseas, Qu added.

Participants at the lecture also exchanged ideas regarding the plan for the fourth Hongqiao International Economic Forum.

Zhang Xinyuan, vice-president of the Bank of China's Shanghai branch, said the bank will continue to support the hosting of the annual expo and help it improve through the strength of the financial industry.