China's Finance Minister calls for Asia-Pacific cooperation amid global economic challenges

Asia-Pacific economies must deepen macroeconomic policy coordination and practical cooperation to navigate mounting global economic challenges and geopolitical conflicts, Chinese Finance Minister Lan Fo'an said on Tuesday.

Speaking at a two-day Asia-Pacific Economic Cooperation (APEC) finance meeting in Hong Kong, Lan said the international landscape is marked by intertwined turbulence and geopolitical tensions that weigh on global growth, even as breakthroughs in artificial intelligence and industrial transformation generate fresh momentum.

To anchor regional stability and growth, Lan outlined three priorities for member economies:

• Strengthening macroeconomic policy dialogue: Member economies should reinforce the soundness of their domestic macroeconomic policies while stepping up communication and coordination to guard against negative spillover effects from policy shifts amid high global uncertainty.
• Accelerating economic transformation: The region should seize opportunities in digital and green transitions, expanding innovative cooperation in artificial intelligence, the digital economy, and low-carbon development to cultivate new growth drivers and strengthen economic resilience.
• Prioritizing development and open trade: Economies should deepen practical financial cooperation, foster an open regional economic environment, keep industrial and supply chains stable and unobstructed, and advance regional economic integration.

Lan noted that China has championed four initiatives under this year's APEC finance track: fiscal policies for green development, digital infrastructure financing, inclusive finance, and exchanges among young financial professionals. Those efforts have yielded initial results, he said, adding that delegates would work over the two-day gathering to build consensus and deliver concrete outcomes during China's host year.

Turning to domestic performance, Lan said China's economy has shown strong resilience despite complex domestic and external pressures, expanding 4.6 percent in the first three quarters of 2026. China has consistently contributed around 30 percent of global economic growth in recent years, he added.

With 2026 marking the start of China's 15th Five-Year Plan, Beijing is focusing on high-quality development, cultivating new growth drivers, building a unified national market, and boosting domestic demand and consumption, Lan said. He pledged that China would continue to deepen reforms and expand high-standard opening-up to create new opportunities for the Asia-Pacific region and the broader global economy.

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗧𝗵𝗲 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱 𝗔𝗽𝗽 ↓