Against this backdrop, the Inauguration Ceremony of the BFA was held on Feb 26-27, 2001 in Boao, Hainan province, China. Former leaders from 26 countries also graced the occasion as our Guests of Honour by addressing the Ceremony. The BFA was officially launched at the Ceremony. Declaration of the BFA, Guidelines of the BFA Charter were adopted during the Ceremony. The Inauguration was a great success and gained wide spread concern from the international community.

Organization Structure

The General Meeting of Members, or GMM, is the ultimate authority of BFA. The GMM shall be held once every calendar year.

The Board of Directors shall be the supreme executive body of the GMM and shall be responsible to the GMM. The members of the Board of Directors shall be elected by a simple majority of the Full Members at the GMM. A meeting of the Board of Directors shall be held at least once a year coinciding with the GMM at the headquarters of BFA.

There shall be a Council of Advisors, consisting of 26 chief representatives from 26 BFA Initial Countries. The Council of Advisors shall meet as the need arises to provide consultation and suggestions on significant issues and matters affecting BFA.

The Secretariat shall be the standing executive body of BFA, responsible for the daily operation of the BFA. Long Yongtu is the Secretary-General of BFA.

The Research Institute is an important intellectual support of BFA. Its functions include the following:

1. To identify the theme and sub-topics for the annual conference;

2. To develop and provide economic forecasting on issues consistent with the goals and policies of BFA;

3. To provide intellectual resources for BFA conferences, seminars, and workshops;

4. To provide human resource development programs for members and other partners of BFA;

5. To establish a virtual network and a clearinghouse for other research and training institutes in Asia and elsewhere.