The APEC Finance Ministers’ Meeting began in Hong Kong today, running for two days as a key precursor to the 33rd APEC Economic Leaders’ Meeting scheduled for November in Shenzhen. This marks the first time Hong Kong has hosted the finance ministers’ gathering and the third time China has served as APEC host in 12 years. More than 500 finance officials, representatives and business leaders from member economies are expected to attend.
China’s Finance Minister Lan Fo’an is leading the Chinese delegation and chairing the meeting, with Vice Minister Liao Min representing China in discussions. Against a complex external environment, the agenda focuses on strengthening macroeconomic policy coordination and exploring new opportunities arising from artificial intelligence. China has put forward four priority topics through the finance channel: fiscal policies supporting people’s livelihoods, financing for digital infrastructure, promoting inclusive finance in ways suited to local conditions, and advancing exchanges among young financial talent across APEC economies.
Financial Secretary Paul Chan said the event carries significant meaning for Hong Kong under the “one country, two systems” framework. He highlighted the city’s unique advantages as a bridge connecting the mainland and the rest of the world, and noted that hosting the meeting allows Hong Kong to showcase its role as an international financial centre and a “super connector.” Chan added that regional economic and trade cooperation is especially important in the current global climate, and that the gathering gives Asia-Pacific political and business leaders a chance to experience Hong Kong’s development opportunities firsthand while gaining a closer look at the coordinated potential of the Guangdong-Hong Kong-Macao Greater Bay Area in innovation and technology, finance and regional collaboration.
Beyond the formal sessions, organisers have arranged a range of side programmes and visits so that participants can experience Hong Kong’s cityscape, cultural vitality and diversity. Reported itineraries include trips to Po Lin Monastery and Tai O, the Peak and Ocean Park, as well as the Science Park, Cyberport, the International Organization for Mediation, the Hong Kong Palace Museum, the Museum of Art and a harbour cruise.
APEC was established in 1989 and remains the highest-level intergovernmental economic and trade forum in the Asia-Pacific region. It currently comprises 21 member economies with a combined population of about 2.9 billion, accounting for roughly 60 per cent of global GDP and half of world trade. Hong Kong joined APEC in 1991 as a separate economy alongside China and Chinese Taipei.