Hong Kong hosted finance ministers from across the Asia-Pacific this week, and China used the occasion to make the case that regional cooperation matters more than ever.
Speaking at the start of the Asia-Pacific Economic Cooperation finance ministers’ meeting, Chinese Finance Minister Lan Foan described the group as an important platform for countries to coordinate their economic plans. With growth uneven and uncertainty high around the world, he said, the 21 member economies should work side by side rather than separately.
Lan pointed to several areas where joint effort could pay off. Artificial intelligence, he said, is changing how businesses operate and how governments think about productivity, and members can gain by sharing ideas and setting sensible approaches. He also highlighted the digital economy, noting that online trade and technology-driven services are opening new routes for growth, particularly if countries can make their systems work together smoothly. Green development was the third priority he raised, with an emphasis on investing in cleaner energy and more sustainable industries without sacrificing economic progress.
The minister also turned to his own country’s plans. He said China remains committed to wide-ranging economic reforms intended to strengthen growth at home. Although he offered few specifics in his opening remarks, he suggested that a more dynamic Chinese economy would benefit its neighbors and trading partners, given the country’s size and its deep links to regional supply chains.
APEC brings together economies that account for a large share of global output and trade, which gives its meetings weight even though the group’s agreements are not legally binding. Its decisions rely on consensus and voluntary follow-through.
Lan’s message came as many governments struggle with slow growth, trade frictions, and rapid technological change. By stressing partnership and shared goals, China appeared to be positioning itself as a supporter of open dialogue among Asia-Pacific economies. The discussions in Hong Kong are expected to continue as ministers compare notes on policy and look for common ground.