APEC finance chiefs say digital infrastructure key to long-term growth
APEC finance ministers concluded their meeting, approving a joint statement and a policy statement on financing digital infrastructure in the Asia-Pacific region. They recognised digital infrastructure as crucial for long-term economic growth and market participation, especially for micro, small and
Asia-Pacific Economic Cooperation (APEC) finance ministers concluded their meeting on 21 October, approving a joint statement and issuing a policy statement on financing digital infrastructure in the Asia-Pacific region. The ministers recognised that digital infrastructure, as the foundation of the digital economy, is vital for long-term economic growth and directly affects market participation by businesses, particularly micro, small and medium enterprises.
Chinese Finance Minister Lan Fo'an, who chaired the meeting, told a press conference after the meeting that on financing digital infrastructure, participants encouraged the public sector to create a strong policy and regulatory environment, support the private sector in providing funds, and promote innovative financing. They also urged multilateral development banks to play a catalytic role in jointly providing financing support for digital infrastructure.
The meeting also produced outcome documents on fiscal policies for sustainable growth in the region and on inclusive finance. The ministers agreed to continue promoting exchanges and cooperation among young financial talents in the Asia-Pacific region.