HONG KONG: Addressing China's responses to the global financial crisis, the 2009 Boao Youth Forum (Hong Kong) was held in the HK Convention and Exhibition Centre yesterday.

Jointly organized by Boao Forum for Asia (BFA) and Y Elites Association (Y Elites), and attended by officials, businessmen and experts from across the region, the one-day forum highlighted the Chinese government's prompt response tackling the global economic recession by efficient monetary policies and timely stimulus measures.

The discussions also addressed how young people in Hong Kong should contribute to the prosperity and stability in the city and the region at large.

Hong Kong Chief Executive Donald Tsang and Li Zhaoxing, Chairman of the National People's Congress Foreign Affairs Committee, who is also the former Foreign Minister of China, delivered keynote speeches at the opening of the forum, which is the first of its kind in Hong Kong.

At the opening ceremony, Donald Tsang said that the Boao Forum for Asia has caught the attention of the world ever since its establishment eight years ago, adding that the 2009 Boao Youth Forum highlights Hong Kong's important position as an Asian world city, while at the same time providing an important platform for Asia's leaders.

Tsang said China has made swift and decisive adjustments to help stabilize the world economy during the global financial tsunami. .

Li Zhaoxing, an internationally respected diplomat veteran, said he was very pleased to have the opportunity be in Hong Kong and share views and opinions with its youths.

Looking to the future, Li said, "Regional economic and trade corporations have become the top priority among Asian countries."

"Asia has diligent people and abounds in natural resources. Asian countries should work as one team and resolve disagreements with communications and discussions," he added.

China's trade with its Eastern Asian trade partners amounted to less than $8 billion in 1991, but has grown to amounted to $230 billion in 2008, said Li.

Other keynote speakers included Tie Ning, Chairwoman of the Chinese Writer's Association; Zhou Heping, Vice-Minister of the Ministry of Culture; and Hu Huaibang, Broad Chairman of Bank of Communications.

The theme of the Forum was "China's Response to the Financial Crisis" to reflect the attention of the world on the positive role that China plays in a new world economy.

The Forum was the first of its kind to be co-organized by a local youth non-profit organization - the Y Elites Association, which is chaired by Jamie Sze. Adrian Cheng and Kenneth Fok were both Chairmen of the Organizing Committee of yesterday's forum.

Long Yongtu, formerly China's Chief Negotiator for the country's accession to the World Trade Organization, is the Secretary General of the Boao Forum for Asia. The Forum was formally inaugurated in February in 2001 as a non-government, non-profit multinational organization committed to promoting regional economic integration.

(HK Edition 12/08/2009 page4)