Hong Kong’s Paul Chan promotes city’s institutional and locational advantages at Apec finance ministers’ retreat in San Francisco
- Paul Chan attends finance ministers’ retreat hosted by US Treasury Secretary Janet Yellen in San Francisco
- Chan highlights Hong Kong’s ability to serve as a ‘high value-added fundraising and professional services platform’
Hong Kong’s financial secretary has highlighted the city’s “institutional and locational advantages” at a retreat with his international counterparts on the first part of his trip to the United States for an Apec summit.
Chan promoted Hong Kong’s advantages as a regional financial centre, the government said.
“Mr Chan highlighted that under the ‘one country, two systems’ framework, Hong Kong maintains its institutional and locational advantages,” a government spokesman said.
“With a sound fiscal position, strong financial stability and a low government debt-to-gross domestic product ratio, Hong Kong is making use of its fiscal policies to promote the development of the economy and key industries.”
Chan also pointed to Hong Kong’s ability to serve as a “high value-added fundraising and professional services platform” to provide efficient matching for fund flows and infrastructure projects, among other things.
The government said the session hosted by Yellen in San Francisco centred on fiscal policies and related issues such as post-pandemic government financial positions, debt ratios and rising debt service payments. Officials also discussed how to allocate resources more effectively in areas such as energy transition and education.