www.news.gov.hk Open in urlscan Pro
2606:4700::6812:a5  Public Scan

Form analysis
0 forms found in the DOM

Text Content

 * January 01, 2025 (Wednesday)
 * Open in new window - Hong Kong Observatory website
 * Open in new window - Hong Kong Observatory website
 * Open in new window - Hong Kong Observatory website
 * Open in new window - Hong Kong Transport Department website
 * Search
 * Traffic Conditions
 * Subscription
 * Default Font Size Larger Font Size Largest Font Size Toggle Light Mode
 * RSS Subscription
 * ENG 繁 簡

news.gov.hk homepage from Hong Kong's Information Services Department Toggle
Light Mode 繁 簡 Toggle Tools Menu Toggle Navigation Menu
 * Home
 * Categories
   Business & Finance At School, At Work Health & Community Environment Law &
   Order Infrastructure & Logistics Admin & Civic Affairs City Life On The
   Record
 * Photo Gallery
   News Special Events
 * Features
 * 2024 Policy Address
 * National Security
 * Clarifications
 * Videos
 * Search


BUSINESS & FINANCE

BUSINESS & FINANCE




 1. Home
 2. Business & Finance
 3. FS attends ADB annual meeting




FS ATTENDS ADB ANNUAL MEETING


May 5, 2024



Play Video
Play

Mute
Current Time 0:00
/
Duration Time 0:42
Loaded: 0%


Progress: 0%
Stream TypeLIVE
Remaining Time -0:42
 
 * 2x
 * 1.5x
 * 1x
 * 0.5x

Playback Rate
1x
 * Chapters

Chapters
 * descriptions off, selected

Descriptions
 * subtitles off, selected

Subtitles
 * captions settings, opens captions settings dialog
 * captions off, selected

Captions

Audio Track
 * 720Precord_voice_over
 * 360Precord_voice_over

Source720Precord_voice_over
Fullscreen

This is a modal window.


Caption Settings Dialog
Beginning of dialog window. Escape will cancel and close the window.
TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaque
Font Size50%75%100%125%150%175%200%300%400%
Text Edge StyleNoneRaisedDepressedUniformDropshadow
Font FamilyProportional Sans-SerifMonospace Sans-SerifProportional
SerifMonospace SerifCasualScriptSmall Caps
DefaultsDone
Climate spotlight:

Financial Secretary Paul Chan speaks at the plenary session of the 57th Annual
Meeting of the Board of Governors of the Asian Development Bank.

Economic insight:

Mr Chan (right) meets Ministry of Finance Vice Minister Liao Min.


NextPrevious

Download Video| Transcript
Voiceover: Financial Secretary Paul Chan attended the Plenary Session of
Governors of the Asian Development Bank or ADB during his trip to Tbilisi,
Georgia. Mr Chan told the session that there is a huge funding gap of trillions
of US dollars for climate and transition investments, and emphasised the
importance of ADB members collaborating to support countries in raising funds
more effectively to reach net zero. He added that Hong Kong’s high-quality
professional services could help with the green certification of projects,
thereby bolstering investor confidence.

Financial Secretary Paul Chan attended the opening session of the 57th Annual
Meeting of the Board of Governors of the Asian Development Bank (ADB) and the
Plenary Session of Governors during his trip to Tbilisi, Georgia.

 

Yesterday morning, Mr Chan met Ministry of Finance Vice Minister Liao Min who
was also participating in the annual meeting. They exchanged views on the
Mainland and Hong Kong's economic development, as well as the global economic
and financial situation.

 

Mr Chan then joined the annual meeting's opening session and the lunch for
governors where they discussed regional development.

 

At the Plenary Session of Governors themed “From Billions to Trillions -
Promoting Private Sector Development for Climate Change”, Mr Chan said there is
a huge funding gap of trillions of US dollars for climate and transition
investments, and that a gap also existed in the funds received by developed and
developing economies in climate financing.

 

He emphasised that ADB members must work together to assist countries in raising
funds more effectively to move towards net zero, adding that in the process, the
ADB should better mobilise private sector resources and channel funds to support
green and transition projects through innovative financial products and
services.

 

The finance chief pointed out that Hong Kong has been making new attempts in the
relevant areas, including securitising infrastructure loans to encourage the
flow of funds from mature projects to new projects; issuing insurance-linked
securities, and more.

 

“Hong Kong's high-quality professional services may also help with the green
certification of projects, thus reinforcing the confidence of investors,” he
noted.

 

Meanwhile, Hong Kong not only seeks to align with international green standards
but also takes part in their making. In addition to the green classification
framework freshly released, Hong Kong is also developing a roadmap this year for
adopting the standards of the International Sustainability Standards Board.

 

Mr Chan said Hong Kong is willing to enhance exchanges and share experiences
with ADB members, as well as collaborate on talent training and co-organise
other relevant capacity building programmes.

 

He then attended a dinner hosted for the Board of Governors.

 

The Financial Secretary today attended the annual meeting's Business Session,
during which matters such as the ADB's budget and business directions were
discussed.

 

During the meeting, Mr Chan said Hong Kong actively supports the ADB’s work and
highlighted the city's unique role as a “super connector” and a multi-level
bridge under the “one country, two systems” principle.

 

He supplemented that in various areas such as business, investment, innovation
and technology, and green transformation, Hong Kong efficiently connects funds
and projects, and can create opportunities with ADB members together.

 

Hong Kong has also been vigorously advancing the development of innovation and
technology in recent years, focusing on artificial intelligence and big data,
life and health sciences, fintech, as well as new energy and new materials.

 

Hong Kong and other ADB members can foster stronger collaboration in these areas
to contribute to regional economic prosperity, enhance the region’s climate
resilience, and build a more sustainable future together, Mr Chan added.

 

Having completed his ADB itinerary, the Financial Secretary is scheduled to
arrive in Hong Kong tomorrow afternoon.

Previous

Next



RELATED STORIES

FS meets Georgian finance minister
May 4, 2024
FS meets ADB President
May 3, 2024
FS to attend ADB session in Georgia
April 30, 2024

 * Contact Us
 * About Us
 * Archive
 * Sitemap

 * 
 * Open in new window
 * Open in new window

Back to top