Paul Chan Highlights Hong Kong's Role in Sustainable Finance at APEC Finance Ministers' Meeting in Lima

FS continues to attend APEC Finance Ministers' Meeting in Peru (with photos/video)

​The Financial Secretary, Mr Paul Chan, continued his attendance at the APEC Finance Ministers' Meeting (FMM) in Lima, Peru, yesterday (October 21, Lima time).

This year's APEC FMM takes the theme of "Sustainable + Digital + Resilient = APEC." During various discussions, Mr Chan spoke on topics including global and regional economic and financial outlooks, sustainable finance, sustainable infrastructure, digital finance, and enhancing resilience against climate change.

In the session on global and regional economic and financial outlooks, Mr Chan shared the latest economic situation in Hong Kong and reiterated Hong Kong's firm support for rules-based free trade and multilateralism. As a "super connector," Hong Kong plays a bridging role between traditional and emerging markets, promoting the regional digital economy and innovative technology for better collective development.

In the discussion session on sustainable finance and infrastructure, Mr Chan highlighted Hong Kong's functions as an international financial centre, facilitating the effective matching of funds with green and infrastructure projects. Through financial innovation and cooperation with international institutions, Hong Kong has been able to securitise infrastructure loans from various countries and issue catastrophe bonds, guiding more international capital to support projects in developing countries and helping them address climate challenges. He also shared updates and experience on Hong Kong's efforts in advancing green and transition finance, including the release of a green taxonomy aligned with international standards and active participation in setting global green standards.

Mr Chan also participated in discussions on digital finance at the FMM, sharing Hong Kong's experiences in developing fintech and promoting inclusive finance, including how regulatory sandboxes encourage fintech innovation and the application of new technologies. He noted that Hong Kong's robust and internationalised financial infrastructure, along with a balanced regulatory system that promotes security and innovation, is conducive to building a thriving fintech ecosystem.

At noon, Mr Chan attended a luncheon of the APEC Business Advisory Council, sharing Hong Kong's experiences on leveraging private market capital to better support sustainable infrastructure and climate change projects, as well as creating a more favorable environment for micro, small and medium enterprises to embrace digital finance. He exchanged views with representatives and business leaders from other economies.

During the FMM, Mr Chan also met with South Korea's Deputy Prime Minister and Minister of Economy and Finance of the Republic of Korea, Mr Choi Sang-mok, and Vietnam's Deputy Minister of Finance, Mr Vo Thanh Hung, to discuss strengthening cooperation and exchanging views on issues of mutual interest.

In the evening, Mr Chan would depart Lima for New York, the United States, where he will attend the Bloomberg Global Regulatory Forum and deliver a speech today (October 22, New York time).

FS continues to attend APEC Finance Ministers' Meeting in Peru (with photos/video) Source: HKSAR Government Press Releases

FS continues to attend APEC Finance Ministers' Meeting in Peru (with photos/video) Source: HKSAR Government Press Releases

FS continues to attend APEC Finance Ministers' Meeting in Peru (with photos/video) Source: HKSAR Government Press Releases

FS continues to attend APEC Finance Ministers' Meeting in Peru (with photos/video) Source: HKSAR Government Press Releases

FS continues to attend APEC Finance Ministers' Meeting in Peru (with photos/video) Source: HKSAR Government Press Releases

CE meets AFF speakers

The Chief Executive, Mr John Lee, today (January 27) and yesterday (January 26) met with the visiting President of the Asian Infrastructure Investment Bank (AIIB) and senior officials of foreign governments. Mr Lee expressed his gratitude to them for serving as speakers at the 19th Asian Financial Forum, co-organised by the Government of the Hong Kong Special Administrative Region and the Hong Kong Trade Development Council, and exchanged views with them on issues of mutual concern.

Mr Lee met with the President of the AIIB, Ms Zou Jiayi, today. Also attending the meeting was the Secretary for Financial Services and the Treasury, Mr Christopher Hui. Mr Lee said that amid the complex and volatile global trade landscape and geopolitical situation, the AIIB has been fostering sustainable economic development and promoting infrastructure connectivity in Asia. As a member of the AIIB, Hong Kong, being the world's third-largest international financial centre, boasts vibrant capital markets, world-class professional services and diversified financial products, and actively supports the AIIB's operations in areas such as project financing, bond issuance, and investment and financial management. Hong Kong will provide full support for the AIIB's establishment of an office in the city, and continue to leverage its unique advantages of connecting the Mainland with the world under the "one country, two systems" principle to deepen co-operation with the AIIB, with a view to further contributing to the sustainable development of infrastructure in Asia.

Accompanied by Mr Hui, Mr Lee met with the Undersecretary of the Ministry of Finance of the United Arab Emirates (UAE), Mr Younis Haji Al Khoori. Also attending the meeting was the UAE Ambassador to China, Mr Hussain bin Ibrahim Al Hammadi. Mr Lee noted that the total merchandise trade between Hong Kong and the UAE exceeded US$16 billion in 2024, making the UAE Hong Kong's largest trading partner in the Middle East. He said he is pleased that since his visit to the UAE in 2023, both sides have continued to strengthen co-operation in various key areas including economy and trade, investment, finance and technology. As an important link in global trade connectivity, the UAE is an active participant in the development of the Belt and Road Initiative. As an international financial, shipping and trade centre with world-class infrastructure and professionals, Hong Kong is making every effort to develop into an international innovation and technology hub. It will give full play to its role as a functional platform for the Belt and Road Initiative and seize the tremendous opportunities brought about by the Initiative jointly with the UAE for mutual benefit.

Yesterday, accompanied by the Under Secretary for Commerce and Economic Development, Dr Bernard Chan, Mr Lee met with the Minister of Treasury and Finance of Türkiye, Mr Mehmet imek. Also attending the meeting was the Ambassador of Türkiye to China, Mr Selçuk Ünal. Mr Lee said that Türkiye, situated at the crossroads of Asia and Europe, is a major economy along the Belt and Road, while Hong Kong, located at a key node of the Belt and Road, plays an important role as a "super connector" and "super value-adder". Mr Lee said that Hong Kong and Türkiye have signed a Comprehensive Avoidance of Double Taxation Agreement as well as an Investment Promotion and Protection Agreement, and the two places will continue to enhance economic and trade co-operation and people-to-people exchanges. He welcomed Turkish enterprises to make use of Hong Kong as a gateway to tap into the Mainland and Asian markets to jointly explore more opportunities. He also encouraged more Turkish youth to pursue further studies and develop their careers in Hong Kong through the Belt and Road Scholarship.

Source: AI-found images