China proposes founding an association of Asian financial cooperation, making joint efforts to improve the financial market in Asia and avoid large-scale financial turmoil in the future, Premier Li Keqiang said while addressing the opening ceremony of the 2016 Boao Forum for Asia (BFA) in Hainan province.

The Premier said he hopes that the world can work together to strengthen the coordination of macro policies, adopt more growth-friendly policies, and prevent any negative spillover effects from the policy adjustments.