Quick Take: Former Central Bank Head Elected Vice Chairman of Boao Forum

Former China central bank chief Zhou Xiaochuan has been elected vice chairman of the Boao Forum for Asia (BFA).

Zhou replaces Zeng Peiyan as chief representative of China, a position that in the BFA constitution also holds the vice chairmanship, according to a statement released Monday after the meeting of the newly elected 19-member board of directors of the BFA.

Zhou was the longest-serving governor of the People’s Bank of China. He led the institution through momentous changes that transformed it into to one of the most important central banks in the world.

Meanwhile, Chinese Vice Foreign Minister Li Baodong was appointed BFA secretary-general.

Former U.N. Secretary-General Ban Ki-moon was elected the forum’s chairman, replacing former Japanese Prime Minister Yasuo Fukuda.

Dubbed “Asia’s Davos,” the BFA is held annually on the tropical island of Hainan, China’s southernmost province, with an aim to promote regional economic integration and development.

This year’s BFA, which began Sunday and runs through Wednesday, has the theme “An Open and Innovative Asia for a World of Greater Prosperity.”

President Xi Jinping is expected to deliver a keynote speech Tuesday, addressing topics that will include how China will continue to open up, as well as the nation’s ongoing trade tensions with the U.S.

Contact reporter Ke Baili (gabriel@caixin.com)