21st Century witnessed the rising of China. This year marks the 60th anniversary of the founding of the People’s Republic of China. Meanwhile, the world has just been experiencing one of the roughest global financial crises since the great depression in the 1930s. Nonetheless, the steadfastness of the booming Chinese economy still looks promising. It hints that China, hand in hand with the rest of Asia, will assume an important role of the world economy in the 21st Century.

In 2009, the Central Government has resolutely taken essential measures to boost internal demand. The rejuvenating fiscal policies and relaxed financial measures have maintained stability in the domestic market and the global economy at large. At the same time, China is determined in support of developing multilateral trading regime and strongly opposes trade protectionism in all its manifestations. To stabilize the global economy, it is also essential to relaunch the Doha Round negotiations of the World Trade Organization and to be united against protectionist trading policies.

Asia is assuming an important role in today’s global economy; closer cooperation among the Asian economies is nonetheless the foundation of global economic growth. In the 17th Economic Leaders Meeting of Asia-Pacific Economic Cooperation (“APEC”) held in November 2009, Chinese President Hu Jintao gave comprehensive and detailed account of the policies and measures China has adopted to fight the financial crisis and the successes achieved thereof, he clearly stated that China will continue to push forward liberalization of the investment market in the Asia-Pacific region and will also advance technological cooperation and transfer in support of the developing economies in the region. With continuously improving multilateral mechanisms, Asia is emerging as a growth engine for the world.

In the past 60 years, especially since the adoption of the reform and opening up policy in the late 1978, China has made profound changes to the aspects of the economy, culture and diplomacy. Summarizing the experiences of the past trials, the Central Government emphasizes a new “Scientific Development Concept”. Thriving cultural activities and the open-arms to foreign cultures have widened the horizon of the citizens. Also, under the notion of peaceful development, China has made encouraging progress in the multilateral relationships with other countries through the years.

The People’s Republic of China has risen to a new and significant height 60 years after founding. Although we are sailing into the uncharted sea overcastted by the financial turmoil, with confidence we may brave the tough challenges. And we, the younger generation, are proud to shoulder the responsibility for the betterment of the mankind.

In a century full of new challenges, we must never cease learning about and adapting to new circumstances. To better equip ourselves, it is crucial to understand the country and the world. Being global citizens, we are proudly Chinese and Asian.

The Y.Elites Association is deeply honoured to have such a precious opportunity to co-host this meaningful 2009 Boao Youth Forum (Hong Kong) with The Boao Forum for Asia. We are very grateful to have State Councilor Ms Liu Yandong, Mr Donald Tsang, the Chief Executive of the HKSAR, Mr Peng Qinghua, the Director of the Liaison Office, all representatives of the ministries and commissions of the Central Government, Mr Long Yongtu, Secretary-General of Boao Forum for Asia, and all officiating guests and honourable speakers to grace the event with their presence. Heartfelt thanks are also given to the honourable speakers in different sessions. Let us keep up our spirit to serve Hong Kong, our motherland and Asia!