APEC Finance Ministers' Meeting concludes in Hong Kong, showcasing city's event-hosting prowess
The APEC Finance Ministers' Meeting concluded successfully in Hong Kong on 21 October, with participants reaching broad consensus on regional economic issues. The SAR government highlighted the event as demonstrating Hong Kong's unique advantages as an international financial centre and its capacity
The Asia-Pacific Economic Cooperation Finance Ministers' Meeting concluded successfully in the Hong Kong Special Administrative Region on 21 October, with the SAR government stating that representatives from member economies and international organisations engaged in in-depth exchanges on major issues of regional economic development, forming broad consensus and achieving practical outcomes.
The meeting fully demonstrated Hong Kong's unique advantages as an international financial centre backed by the motherland and connected to the world, as well as its capacity to host major international conferences, the government said. Hong Kong will continue to play its role as a 'super-connector' and 'super-value-adder', deepening exchanges and cooperation with APEC member economies to contribute to regional economic and financial development.
On the second day of the meeting, a joint statement was issued. Financial Secretary Paul Chan, speaking in a discussion session, said that promoting financial inclusion hinged on enabling citizens and small and medium-sized enterprises to access affordable and reliable financial services safely and conveniently. He shared Hong Kong's experience with the 'Commercial Data Interchange', which facilitates data sharing between businesses and banks to improve credit assessment efficiency and make it easier for SMEs to obtain financing. Chan emphasised that consumer protection, data governance and clear accountability mechanisms must advance in step with innovation.
Chan said Hong Kong supports extending youth financial talent exchange and cooperation into next year, cultivating a new generation of professionals with expertise, sound judgment, international vision and cross-border collaboration skills. He suggested exchanges focus on practical policy topics including responsible application of artificial intelligence, digital infrastructure financing and financial inclusion, and establish ongoing networks among participants to promote learning and long-term cooperation.
Chinese Finance Minister Li Fuan said in his closing remarks that parties should firmly implement the consensus of the APEC Economic Leaders' Informal Meeting, uphold multilateralism and deepen practical cooperation in the financial sector to contribute to regional economic and financial stability and long-term sustainable growth. At a press conference, Li said the meeting deepened consensus among Asia-Pacific parties in three areas: strengthening macroeconomic policy communication and coordination to jointly address external risks and challenges; advancing practical cooperation in the financial sector to support long-term sustainable economic development in the Asia-Pacific; and promoting regional economic integration to build an Asia-Pacific community.