China will set up a forum on global economic development and security under the framework of the Boao Forum for Asia (BFA), with the first conference scheduled in 2020 in the country, according to the BFA.

The forum will offer a platform for all parties to build a new global framework for security cooperation in order to safeguard the environment for peaceful development, said BFA Secretary General Li Baodong, at a press briefing Thursday.

The first conference scheduled in September 2020 will bring together governments, businesses, experts and scholars from Asia and other parts of the world to discuss cooperation in economic development and security, said Zeng Weixiong, deputy director of the China National Narcotics Control Commission, who serves as president of the conference.

In addition to strengthening law enforcement cooperation mechanisms, regular dialogue and cooperation mechanisms should also be expanded to deal with economic security, social security as well as technological security and other issues, Zeng said.