Zhou Wenzhong, secretary-general of BFA, addresses a meeting of the Council of Advisors of Boao Forum for Asia (BFA) during the BFA annual conference 2018 in Boao, China's Hainan province, April 8, 2018. (WEN ZONGDUO / CHINA DAILY)

BOAO, Hainan – Singapore tops the rank of Asia's most competitive economies, according to organizers of the Boao Forum for Asia (BFA).

Asian economies pose as a strong world driver, but should be wary of financial risks and rising protectionism 

Zhou Wenzhong, Secretary-General, BFA

The others who made it to the top 10 are: Hong Kong of China, the Republic of Korea, Taiwan of China, Australia, Israel, Japan, New Zealand, Chinese mainland and Bahrain.

Asian economies pose as a strong world driver, but they should be wary of financial risks and rising protectionism, Zhou Wenzhong, secretary-general of BFA, said at a news conference on the sidelines of the forum.

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US President Donald Trump is right in finding problems with the US economy but gives wrong prescription by imposing high tariffs, he said, adding that the current trend is for open and inclusive development.

Reports on Asian economic integration and emerging markets were also released on Wednesday.

Total 2,000 delegates from around the world gathered at the annual BFA conference to explore future paths of prosperity. 

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The forum has been transformed into an influential stage for not only Asia but also the world since 2000, said Yinglin Zhang, chairman of Hebei Yunlong Investment Group Co Ltd, who is also a founding member of the BFA.

The Sitting Council of Advisors of the BFA also held a meeting to prepare schedules on reform measures of the forum.