At the APEC Finance Ministers' Meeting held in Hong Kong, southern China, representatives from Asia-Pacific Economic Cooperation economies called for the removal of tariffs and other barriers that hinder regional cooperation.
Paul Chan, financial secretary of the Hong Kong Special Administrative Region government, after attending the meeting, said many ASEAN economies, such as Malaysia and Vietnam, welcome investments from mainland Chinese companies for their potential to help boost local economies and create more jobs.
"We learned to value openness, innovation, and cooperation more after the meeting," Chan told Xinhua. He said that representatives from APEC economies agreed to promote investment and industrial chain cooperation in the region.
When these companies decide to expand their global reach, Hong Kong's strengths in professional services can facilitate the process, he added.
Hong Kong's access to global capital also plays a role in other areas of APEC cooperation. APEC economies can seek funding for their large-scale infrastructure projects in Hong Kong, while companies can list on both their local capital markets and the Hong Kong stock exchange, Chan said.
In this regard, Chan said he had attracted considerable interest from representatives when presenting plans to deepen securities regulatory cooperation with APEC economies.
Regarding efforts to promote financial access and opportunities for all, a key topic of the October 20-21 meeting, Chan cited Project CargoX, an initiative spearheaded by the Hong Kong Monetary Authority, as a case study.
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