Financial Secretary Paul Chan Mo-po unveiled his agenda for the global economic summit in his blog on Sunday, a day after he left Hong Kong to join the event on behalf of US-sanctioned Chief Executive John Lee Ka-chiu, who earlier said he could not attend due to “scheduling issues”.
“Facing complex, ever-changing and uncertain prospects, it is crucial for major economies to engage in more dialogue to enhance understanding, manage differences, promote cooperation and jointly seek solutions to address challenges,” Chan said. “This is essential for stabilising the situation and driving economic development forward.”
Chan is expected to attend the Finance Ministers’ Meeting on Sunday and Monday, as well as the Apec Economic Leaders’ Meeting from Wednesday to Friday. Both will take place in San Francisco.
The finance minister on Sunday said it was important for Hong Kong to make more friends and build closer ties with more economies, especially given rising geopolitical tensions, high interest rates and uncertain recovery in some major countries over the past few years.
He explained such factors had led to concerns in the business community, creating a more cautious investment attitude.
“Through bilateral meetings with different economies, we can expand our circle of friends to enhance mutual understanding of development goals and priorities, and establish a better foundation for further cooperation in the future,” he said.
Hong Kong forum on US-China ties seeks ‘optimistic’ tone ahead of Apec summit
Hong Kong forum on US-China ties seeks ‘optimistic’ tone ahead of Apec summit
He added that broadening Hong Kong’s social circle and engaging in more exchanges would help the outside world better understand the advantages and potential of the city, which had entered a new development stage, going from “stability to prosperity”.
He cited the three-day Global Financial Leaders’ Investment Summit held last week in the city, saying global fund managers had gained a better understanding of the economic situation and future direction of mainland China by listening to speeches delivered by officials and their responses to questions.
Will city leader’s Apec absence take heat off Hong Kong amid US-China friction?
Will city leader’s Apec absence take heat off Hong Kong amid US-China friction?
The government lowered its full-year forecast for the city’s economic growth to 3.2 per cent earlier this week from a previous estimate of 4 to 5 per cent, warning that rising geopolitical tensions and high interest rates would continue to pose challenges.
The finance chief on Sunday said he would showcase the opportunities offered by the city in the areas of finance and innovation and technology to political and business leaders from different countries during the meetings at the Asia-Pacific Economic Cooperation forum.
Chan said he would also reach out to the US business community by visiting American companies and meeting industry leaders to encourage them to seek opportunities in Hong Kong.
Hong Kong’s Paul Chan says economic growth for 2023 to fall short of estimates
Hong Kong’s Paul Chan says economic growth for 2023 to fall short of estimates
During the meetings, he said he would highlight measures rolled out by the government to lure talent and enterprises, as well as opportunities on the mainland, particularly the Greater Bay Area, a Beijing initiative to link Hong Kong and Macau with nine mainland cities.
The government earlier said Lee had received an invitation for Apec from the United States but he would not be able to represent the city in person due to “scheduling issues”.
Lee was among 11 officials sanctioned by the US for their role in the imposition of the national security law in June 2020.
Chinese President Xi Jinping and his US counterpart Joe Biden are expected to meet on the sidelines of the summit.
