"The accession brought about huge business opportunities and helped China impress the world as an open, responsible country that abided by international rules," the official said.

An influx of foreign investment into China indicated the world's confidence, Long said.

"Asia might be the engine of the world economy, and the regional economic development is significant to Asian countries and people, and to the recovery and further development of the world economy," Long said.

The BFA focused on enhancing cooperation between Asian countries and helped them to play a more important role in the world economy as a whole, he said.

The BFA, an unofficial, non-profit, open and regular international conference, formally announced its establishment in 2001 in Bo'ao, a scenic town in China's southern island province of Hainan.

The BFA is the first high-level forum aimed at enhancing exchanges and cooperation among Asian countries as well as between Asia and the rest of the world.

The BFA's second annual conference, originally scheduled for May 18 and 19 in Bo'ao, was postponed in view of uncertainty over severe acute respiratory syndrome.

(Xinhua News Agency May 29, 2003)