On October 21, local time, Hong Kong’s Financial Secretary Paul Chan participated in the APEC Finance Ministers’ Meeting in Lima, Peru. During the meeting, he shared insights on Hong Kong’s current economic landscape and promoted the unique advantages of Hong Kong as an international financial center and a “super-connector.”

In a session focused on global and regional economic and financial outlooks, Chan highlighted recent developments in Hong Kong’s economy. He emphasized the territory’s steadfast commitment to rules-based free trade and multilateralism. Acting as a “super-connector,” Hong Kong has the potential to bridge traditional and emerging markets, fostering the growth of the digital economy and innovative technologies across the region.

During discussions on sustainable finance and infrastructure, Chan detailed Hong Kong’s role as an international financial hub. He pointed out how Hong Kong efficiently matches funds with green and infrastructure projects, and through financial innovation and collaboration with international institutions, facilitates the securitization of infrastructure loans from various regions, including issuing catastrophe bonds. This strategy aims to attract more international funding to support projects in developing countries, helping them enhance their infrastructure and address challenges related to climate change. Chan also shared recent initiatives Hong Kong has undertaken in promoting green finance and transitional finance.

Additionally, Chan took part in discussions regarding the development of digital finance and shared Hong Kong’s experiences in advancing financial technology and promoting inclusive finance.

During the APEC meeting, Chan also met with South Korea’s Deputy Prime Minister and Minister of Economy and Finance Choi Sang-mok, as well as Vietnam’s Deputy Minister of Finance Vu Thanh Ha.