China's Ministry of Finance has introduced the key agenda items and expected outcomes of the APEC Finance Ministers' Meeting scheduled on Oct. 20 and 21 in Hong Kong.
A ministry official said China will put forward four major topics -- fiscal policies to support people's livelihoods, financing of digital infrastructure, promoting inclusive finance tailored to local conditions, and fostering exchanges and cooperation among young finance professionals across APEC.
Economies urgently need to strengthen macroeconomic policy coordination and adopt appropriate fiscal and financial policies to better support innovation and inclusive development, the official said.
At the same time, the rapid advancement of digital technologies and artificial intelligence has generated new demand for digital infrastructure investment and financing, and highlighted the importance of improving exchanges among young finance professionals and strengthening future policy-making capacity, the official said.
Finance ministers or their representatives from 21 APEC economies, along with senior representatives from relevant international organizations and partner institutions, will attend the meeting.
At the meeting, representatives of APEC economies will hold in-depth exchanges and work toward consensus documents and deliverables on major topics, the official said.
"Through these outcomes, we hope to pool useful experience from all parties, promote policy exchanges and experience sharing, and provide support for deepening Asia-Pacific financial cooperation and sustaining Asia-Pacific economic growth," the official said.
The official said the meeting in Hong Kong will build up financial sector outcomes ahead of the 33rd APEC Economic Leaders' Meeting, scheduled in Shenzhen in November.
China stands ready to work with all APEC economies to uphold multilateralism, deepen macroeconomic policy coordination, maintain the stability and smooth functioning of regional industrial and supply chains, and jointly promote long-term sustainable economic growth in the Asia-Pacific to advance the building of the Asia-Pacific community, the official added.
(Source: Xinhua)
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