Apec meeting 'achieves results, consensus'

The Apec Finance Ministers Meeting in Hong Kong has produced tangible outcomes, according to Minister of Finance Lan Foan. The two-day event culminated in the issuance of the 2026 Apec Finance Ministers Joint Statement and a policy statement aimed at strengthening regional cooperation on digital infrastructure financing. At a press conference, Lan elaborated on the meeting's achievements, highlighting the formulation of two professional documents and a summary of the work of a young financial talent programme.

The finance minister emphasized that Apec member economies have committed to bolstering macroeconomic communication and coordination to address external risks and challenges. Lan stated that the agreement includes enhancing the robustness of macroeconomic policies, improving macro policy communication, and strengthening macroeconomic coordination to better manage uncertainties and destabilizing factors affecting economic growth.

Furthermore, the ministers agreed on unlocking the potential of emerging technologies like AI to boost productivity and introduce new growth drivers to propel Asia-Pacific economic expansion. Lan also noted that Apec members agreed to foster practical financial and economic cooperation to support long-term sustainable development in the region, with a focus on stimulating household spending and domestic demand.

In the realm of digital infrastructure financing, Apec economies encouraged public sectors to create an advantageous policy and supervisory environment while empowering the private sector to provide funding and facilitate innovative financing. Additionally, during a closed-door session, the ministers discussed strategies to promote Asia-Pacific economic growth amidst a shifting global landscape, and explored proposals for mobilizing private capital to support digital infrastructure during a working luncheon.