Hong Kong attends the annual ADB in the Philippines

Hong Kong Treasury and Financial Services Secretary Christopher Hui has assisted to the 55th Annual Meeting of the Board of Governors of the Asian Development Bank (ADB) in Manila, Philippines.

It discussed, among other things, the ADB’s response to the challenges of COVID-19, in particular the resources allocated to help developing member countries acquire and supply vaccines. The promotion of universal access to clean and affordable energy was also discussed.

Noting that Hong Kong is an international financial center with a large number of professional service providers, Hui said the city could collaborate with the international community and provide effective solutions in three areas to help overcome the challenges facing the world.

As for the development of financial technologies, Hui said that a vibrant scene is emerging thanks to the creation of a conducive regulatory environment and grants for innovative projects that encourage innovation in financial services.

Hong Kong continues with visit to senior Philippine officials

He added that Hong Kong is well equipped to become a leading regional hub for green and sustainable finance and encouraged the ADB to take advantage of the wide availability of funders in the city for fundraising.

Hui also told participants that Hong Kong, the world’s center of renminbi business, has a unique advantage in connecting capital between the mainland and the rest of the world.

Finally, Hui paid a courtesy visit to the Chargé d’Affaires of the Chinese Embassy in the Philippines, Zhou Zhiyong. There he briefed Zhou on the smooth development of Hong Kong’s financial industry. He hopes that Hong Kong can contribute to the relationship between the country and the Philippines, in line with the strategies of the “Belt and Road” Initiative and the development of the Guangdong-Hong Kong-Macao Greater Bay Area.

Hui will attend the Governors’ Seminar and Governors’ Business Session at the ADB Annual Meeting in Manila, before returning to Hong Kong.