Chinese authorities decided to postpone the Asian Economic Forum (AEF) in Boao, due to the coronavirus outbreak, Report informs, citing TASS. The event was to be held on the southern island of Hainan on March 24-27.

The Boao forum is called the “Eastern Davos.” It is an essential platform for signing relevant agreements and coordinating positions between representatives of business and government circles in many countries. The AEF has been functioning since 2001. The Chinese government pays great attention to it since this mechanism helps activate Beijing’s international contacts and strengthen China’s role in the global arena.