Chen Xu Highlights Hong Kong's Role as a Global Bridge, Welcomes APEC Delegates to Explore the City

At the 2026 APEC Finance Ministers' Meeting held at the Hong Kong Convention and Exhibition Centre in Wan Chai, Ambassador Chen Xu, Chair of the 2026 APEC Senior Officials' Meeting, remarked that Hong Kong is a vital bridge connecting China with the Asia-Pacific and the world. He expressed great pleasure in gathering in Hong Kong for the Finance Ministers' Meeting and extended sincere gratitude to China's Ministry of Finance for its efficient and pragmatic organization and preparatory work, as well as to the HKSAR Government for its thoughtful arrangements and warm hospitality. He expressed the hope that delegates would take the opportunity to walk around and experience the unique charm of Hong Kong firsthand.

Ambassador Chen Xu, Chair of the 2026 APEC Senior Officials' Meeting. Photo source: AP News

Chen briefed the meeting on the progress and outcomes of the APEC "China Year." He noted that China, as the APEC host this year, has worked with all members to advance exchanges and cooperation across various fields and mechanisms under the theme of "Building an Asia-Pacific Community to Prosper Together," focusing on the three priorities of openness, innovation, and cooperation. To date, more than 300 APEC meetings and events have been successfully held, including a series of sectoral ministerial meetings and the Digital Week, yielding a range of practical outcomes.

The 2026 APEC Finance Ministers' Meeting. Photo source: AP News

On specific cooperation progress, Chen stated that members have reaffirmed their support for the Free Trade Area of the Asia-Pacific (FTAAP) process, approved the APEC Roadmap for Innovative, Competitive and Resilient Services, outlined the APEC vision for digital and artificial intelligence cooperation, and committed to enhancing women's digital literacy, employment, and entrepreneurship. In addition, economies held in-depth discussions on tourism facilitation measures in the Asia-Pacific region, clarified pathways for cooperation on forest governance and forest products trade, formulated guiding principles for enhancing food system resilience, and comprehensively elevated the capacity of SMEs in the region for innovative and resilient development. The meeting also deepened the concept of an Asia-Pacific Energy Community, further promoted the modernization of human resources in the region, and strengthened cooperation on smart transport and connectivity. Chen stressed that these fruitful outcomes have further built consensus for constructing an Asia-Pacific community and laid a solid foundation for the upcoming APEC Economic Leaders' Meeting.

Analyzing the current macroeconomic landscape, Chen noted that the world economy is entering a new period of turbulence and transformation, with unilateralism and protectionism continuing to spread and global industrial and supply chains accelerating their adjustment, making the issue of uneven development in the Asia-Pacific region more pronounced. Therefore, further strengthening macroeconomic communication and coordination among APEC economies and making good use of various fiscal and financial tools are of vital significance for safeguarding economic stability and promoting regional economic integration.

The 2026 APEC Finance Ministers' Meeting. Photo source: AP News

He further stated that delegates gathering in Hong Kong to conduct in-depth discussions on a wide range of topics, including fiscal policy, supporting people's livelihoods, facilitating digital infrastructure financing, and promoting inclusive finance development, will help fully leverage the positive role of fiscal policy in stabilizing growth, safeguarding livelihoods, and promoting transformation. This will unleash the development vitality of the Asia-Pacific region and provide solid fiscal and financial safeguards for building an Asia-Pacific community.

Hong Kong. Photo source: reference image

In his concluding remarks, Chen emphasized that Hong Kong is not only an international financial, trade, and shipping center, but also a core engine of the Guangdong-Hong Kong-Macao Greater Bay Area and a vital bridge connecting China with the Asia-Pacific and the world. The APEC Finance Ministers' Meeting is the first APEC ministerial meeting ever hosted by Hong Kong. He expressed the hope that delegates will take this opportunity to walk around and see for themselves the city's unique charm, vibrant energy, and boundless vitality.

The 2026 APEC Finance Ministers' Meeting opened at the Hong Kong Convention and Exhibition Centre in Wan Chai on Tuesday (October 20). Addressing the opening ceremony, Lan Fo'an, China's Minister of Finance, noted that the international landscape is currently fraught with turbulence and complexity, with geopolitical conflicts producing spillover effects that pose multiple tests for global economic expansion. Meanwhile, a new round of technological revolution and industrial transformation, led by artificial intelligence, is accelerating and generating fresh growth drivers. Lan stressed that the Asia-Pacific region, as the primary engine of the global economy, bears a greater responsibility, and that APEC member economies ought to earnestly implement the consensus reached by the APEC Economic Leaders' Meeting and work together to inject momentum into regional prosperity.

Lan Fo'an, China's Minister of Finance. Photo source: AP News

Lan put forward several directions for regional cooperation in his opening remarks. First, he called for strengthening macroeconomic policy dialogue to safeguard regional economic and financial stability. In the face of high external uncertainty, he said members should consolidate the sound footing of their own economic policies while enhancing policy communication and coordination to prevent negative spillover effects from individual policy shifts.

Lan Fo'an, China's Minister of Finance. Photo source: AP News

Second, Lan urged efforts to accelerate economic transformation to enhance resilience against risks. The region should proactively seize the development opportunities presented by digitalization and the green transition, focusing on frontier areas such as artificial intelligence, the digital economy, and green, low-carbon development to pursue innovative cooperation and cultivate new sources of economic momentum. He also stressed that economies should prioritize development and promote inclusive, win-win outcomes, continuously expanding practical cooperation in the financial and economic fields, building an open regional economic architecture, ensuring the smooth and stable operation of industrial and supply chains, and deepening regional economic integration.

The 2026 APEC Finance Ministers' Meeting. Photo source: AP News

Lan noted that, with joint efforts from all parties, the four key agenda items spearheaded by China under the APEC finance and economic cooperation framework this year have achieved initial results. These include fiscal policies to support people's livelihoods, digital infrastructure financing, inclusive finance adapted to local conditions, and promoting exchanges and cooperation among young finance professionals across APEC economies. He said the two-day meeting will see deeper consultations and consensus-building on these areas, with the aim of delivering more concrete outcomes for APEC financial cooperation during the "China Year." Noting that this meeting is the capstone event of the 2026 APEC finance and economic cooperation agenda, Lan expressed the hope that representatives will sustain the positive momentum and lay a solid foundation for the upcoming APEC Economic Leaders' Meeting.

The 2026 APEC Finance Ministers' Meeting. Photo source: AP News