Apec finance ministers reach consensus on AI, digital financing in Hong Kong
Asia-Pacific Economic Cooperation (Apec) finance chiefs reached a consensus on economic policy coordination and cooperation on financing technology and artificial intelligence at a landmark two-day gathering in Hong Kong, according to China’s finance minister. Lan Foan said the outcomes achieved during the Apec Finance Ministers’ Meeting would help shape discussions at the leaders’ summit in…
Apec finance ministers in Hong Kong reached agreement on economic policy coordination, digital financing, and artificial intelligence advancements during a two-day summit. China's finance minister, Lan Foan, stated that the consensus would guide discussions at the upcoming November leaders' summit in Shenzhen. More than 500 participants, including finance ministers from Apec's 21 economies, convened in Hong Kong from Tuesday to Wednesday, marking a prelude to the leaders' summit featuring President Xi Jinping and US President Donald Trump.
Lan emphasized that the meeting addressed global uncertainties and promoted digital infrastructure financing. Three key areas of consensus were reached: strengthening macroeconomic policy coordination to manage external risks, enhancing regional cooperation on digital infrastructure financing, and expanding access to financial services for individuals and businesses, particularly small and medium-sized enterprises.
Lan highlighted the importance of leveraging emerging technologies like AI to boost productivity, foster new growth drivers, and invigorate Asia-Pacific economic growth.
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