Asia's economy is likely to continue its robust growth this year despite challenges, according to a report by the Boao Forum for Asia.

The release of the "Asian Economic Outlook and Integration Progress Annual Report 2025" came as the forum kicked off its annual gathering in Hainan province, with about 2,000 representatives from more than 60 countries and regions attending.

The report said economic growth in Asia is expected to reach 4.5 percent this year, slightly higher than a 4.4 percent increase in 2024.

China's economy, the world's second largest, is forecast to grow by 5 percent.

And the continent will continue to be the key driver of global growth this year, contributing to nearly half of the world's economic output.

The report also cited challenges such as uncertainties caused from US tariffs, complicated geopolitical dynamics, as well as a high level of inflation.

Speaking at a press conference, Zhang Jun, the forum’s secretary general, said the current global environment is undergoing profound changes.

He added that China is calling for unity to meet the challenges.

"The theme of this year's annual conference is closely related to the current major issues and various challenges, which will help us better navigate the direction going forward amid the changing situation, to seek for common development," he told reporters.

"We hope that the meeting this year will send a strong signal to the international community to maintain confidence, unity and cooperation, overcoming the difficulties and building the future together."

Also attending the forum was Chief Executive John Lee, who said Hong Kong is a global city connecting the world, and that the SAR will continue to promote free trade and market liberalisation.

"We are devoted to deepening international exchange and collaboration. Hong Kong has signed investment agreements covering 33 economies, and free trade agreements covering 21 economies," he said.

"We aspire to add the Regional Comprehensive Economic Partnership – the world's largest free trade pact – to our free trade agreements soon, and better contribute to regional cooperation."

Among the key topics at the forum lasting through Friday include the development of artificial intelligence and sustainable development.

On Thursday, Vice Premier Ding Xuexiang will deliver a keynote speech at the opening plenary.
_____________________________
Last updated: 2025-03-25 HKT 21:37