More than 1,000 participants and about 260 journalists around the world have gathered in the small town of Boao. Among them are state leaders, entrepreneurs and academia.

Apart from some government policy speeches by top leaders such as Chinese Premier Wen Jiabao, business leaders and leading economists in the world will also discuss the hot issues. Topics range from regional cooperation to finance, from the development of the IT sector to the role of the media.

So what kind of role can Boao play? Pakistani Ambassador to China Riaz Mohhamad Khan speaks highly of Boao. He says the fact that President Peverz Musharraf will address to the conference indicates just that.

"We're sure this Boao forum is going to be stronger, and play a greater role in enhancing and promoting cooperation among Asian countries, as well as a catalyst for regional economic integration."

This year some of the hottest topics focus on the financial sector. And there will be a sub meeting on regional financial cooperation organized by the Asian Development Bank. Clay Wescott, the ADB's Regional Cooperation Specialist, says Boao provides a good opportunity to discuss how to cooperate and how to avoid possible turmoil.

"The thing we like about the Boao Forum for Asia is the way that it is distinctly Asian institution. We think this is very important for topics of financial and monetary cooperation, because cooperation is something that involves trust among the region and to build trust you need to have the countries giving their respective views."

The theme of this year's conference is "Asia Searching for Win-win, Development Through Cooperation". One party that already feels it's winning is the host of the forum, Hainan Province. Vice Governor Li Lihui says the benefits for Hainan are not only one fold.

"Choosing Boao as the venue. This is a great opportunity for the whole province. First, it can speed up the opening process of Hainan; second, we can establish more contacts and attract more investment. What's more, it can also be a stimulus, for us to improve ourselves in infrastructure, organization, and services."

But after all, Boao is only a non-government, open forum, not a decision-making mechanism. That's why Lvqiu Luwei, a journalist from Hong Kong Phoenix Television says she doesn't expect any breakthrough this time.

"If you want some breakthroughs, I don't expect that. Because I just think this is a forum. So people just come here and express their views. I think the most unique and important thing is this is the forum established in China. This is the most important thing."

This is also the view of many other attendants. They believe the voice of Asia is getting stronger as it has 40 percent of the world's population and enjoys dynamic growth, but its combined GDP now only accounts for 25 percent of the global figure. In order for Boao to be as influential as the World Economic Forum, Asia must first turn itself into a stronger economic powerhouse. And that's something people can discuss in Boao.

(CRI November 2, 2003)