33rd APEC Finance Ministers' Meeting kickstarts in Hong Kong

The two-day APEC Finance Ministers' Meeting is being held in Hong Kong starting today. Chinese Finance Minister Lan Foan said all members should strengthen macroeconomic policy dialogues and safeguard regional economic and financial stability.

The APEC Finance Ministers' Meeting held its formal sessions in the afternoon at the Hong Kong Convention and Exhibition Centre in Wan Chai. The meeting is chaired by the host, China's Minister of Finance Lan Foan.

Hong Kong, as the host city, was represented by Financial Secretary Paul Chan and Secretary for Financial Services and the Treasury Christopher Hui. The United States and Russia sent their deputy finance ministers as representatives.

In his opening remarks, Lan said Asia-Pacific is the engine of global economic growth. With the current international economic environment being highly uncertain, all economies should strengthen macroeconomic policy dialogue and accelerate economic transformation.

Lan says, "We should strengthen policy communication and coordination, and prevent negative spillover effects brought about by policy adjustments. We will have to seize the opportunities of digital and green transformation, promote innovative cooperation in areas like artificial intelligence, digital economy, and green and low-carbon development to cultivate new growth points."

"I hope all parties can deepen practical cooperation in the financial and economic fields and create an open regional economic environment, while maintaining the stability and smooth flow of industrial and supply chains, and advance regional economic integration."

Ambassador Chen Xu, Chair of the 2026 APEC Senior Officials' Meeting, briefed the delegates on the progress and outcomes of China's work during the year, saying that over 300 meetings and events had been held, with practical results being achieved. "Today, we gather here at Hong Kong, to conduct in-depth discussions on issues like fiscal policies supporting livelihood development, facilitating financing for digital infrastructure and promoting inclusive financial development."

"This will help give full play to the positive role of fiscal policy in stabilising growth, protecting livelihoods and promoting transformation," Chen says.

Financial Secretary Paul Chan said at the meeting that APEC members should open channels for trade and investments, not new barriers, and that the city, as an international financial centre, will channel capital into productive investment, while helping businesses enter new markets and commercialise technologies with its professional services.

This is the first time Hong Kong has ever hosted the APEC Finance Ministers' Meeting. It's the last specialised ministerial-level meeting before the APEC Economic Leaders' Meeting which will take place in Shenzhen next month. The APEC Finance Ministers' Meeting wraps up Wednesday, the finance ministers are expected to release a joint statement then.