Asia growth rate estimated at 4.5% in 2023

The BFA holds its annual conference from March 28 to 31 in Boao, a coastal town in China's island province of Hainan.

The report titled "Asian Economic Outlook and Integration Progress" said that, as a major engine of the world economy, Asian economies are accelerating the pace of overall economic recovery in 2023, making them a standout performer amid a global economic slowdown.

Despite a deteriorating global labour market in 2023, the employment situation in Asia, particularly in East Asia, may turn out better than expected, according to the report.