Over 1,600 political leaders, entrepreneurs and scholars are attending the event to discuss the impact of the global financial crisis on Asia, measures that Asia will take to deal with the crisis, the role of Asian countries, especially emerging economies, and the balance between financial principles and reforms.

Addressing the annual event, Chinese Premier Wen Jiabao called on Asian countries to cooperate for their common interests and a stable regional financial system. He said that the process of global restoration will be long and need greater efforts.

The premier also introduced China’s stimulus package which he said is paying off.

On the agenda will be some additional issues such as ‘green development’ and promoting the internet.

The BFA was established in 2001 to serve as a platform for high-level exchanges between political leaders and Asian business circles as well as other nations aiming to boost the continent’s development goals by enhancing regional economic integration.