Paul Chan meets US Treasury's Yellen ahead of APEC Finance Ministers' Meeting

Financial Secretary Paul Chan Mo-po discussed the fiscal policies and resource allocation strategies with ministers of the member economies in the Asia-Pacific Economic Cooperation (APEC) as he attended a meeting hosted by US Secretary of the Treasury Janet Yellen.

Speaking at the Finance Ministers' Retreat held in San Francisco on Sunday, Chan said Hong Kong is able to use its sound fiscal position and low government debt-to-gross domestic product ratio to promote the development of the economy and key industries.

He added that the city serves as a high value-added fundraising and professional services platform to provide efficient fund flows, project management, risk diversification, and attractive potential returns for green transformation and infrastructure projects.

The city's financial chief also met representatives of various economies participating in the Finance Ministers' Meeting, including Singapore's Minister in the Prime Minister's Office and Second Minister for Finance and for National Development Indranee Rajah, and Minister at the Prime Minister's Office and Minister of Finance and Economy II of Brunei Darussalam Dato Dr Amin Liew.

Chan also attended a welcome banquet and is set to participate in the APEC Finance Ministers' Meeting held in San Francisco on Monday.