On October 21, during his ongoing participation in the APEC Finance Ministers’ Meeting in Lima, Peru, Hong Kong’s Financial Secretary, Paul Chan, took the opportunity to discuss the latest economic developments in Hong Kong. He emphasized the city’s unique position as an international financial center and a “super connector.”
In a session focused on global and regional economic and financial outlooks, Chan highlighted Hong Kong’s economic situation and reaffirmed the city’s strong commitment to rules-based free trade and multilateralism. He asserted that Hong Kong plays a vital bridging role between traditional and emerging markets, particularly in advancing the regional digital economy and innovative technologies.
During discussions on sustainable finance and infrastructure, Chan elaborated on Hong Kong’s function as an international financial hub. He noted the city’s efforts to effectively match funding with green projects and infrastructure initiatives. By leveraging financial innovation and collaborating with international organizations, Hong Kong is working to securitize infrastructure loans from various regions and issue catastrophe bonds, thereby directing more international funding toward projects in developing countries. This, he indicated, will significantly aid their infrastructure development and address the challenges posed by climate change. He also shared insights into Hong Kong’s latest initiatives in green and transition finance.
Additionally, Chan participated in discussions on the development of digital finance, offering examples of Hong Kong’s experiences in enhancing fintech and promoting inclusive financial practices.
Throughout the Finance Ministers’ Meeting, Chan held bilateral discussions with South Korea’s Vice Prime Minister and Minister of Economy and Finance, Choi Sang-mok, as well as with Vietnam’s Deputy Minister of Finance, Vu Thanh Nguyen.
