High-level meeting on multilateralism, globalization held in Hong Kong

HONG KONG -- The International Finance Forum (IFF) together with the Hong Kong Monetary Authority (HKMA) and the Hong Kong Academy of Finance on Friday hosted a major conference on multilateralism and globalization.

In a recorded address to the conference, Chief Executive of the Hong Kong Special Administrative Region (HKSAR) John Lee said multilateralism and globalization are part of Hong Kong's DNA and Hong Kong's success is based on "versatility and resilience."

"Hong Kong is striving for early accession to the Regional Comprehensive Economic Partnership, or RCEP," Lee said, noting that the HKSAR government is sparing no effort to pursue high-quality development.

IFF Co-Chair and Chairperson of the Council of Presidents of the UN General Assembly Han Seung-soo said as two critical issues facing humanity today are climate change and digitalization, the Guangdong-Hong Kong-Macao Greater Bay Area has much to do in order to help ameliorate the problems that may arise from these two issues.

Paul Chan, financial secretary of the HKSAR government, highlighted Hong Kong's strengths in green finance and its commitment to contributing to world green development.

"Last year, the green debts issued or arranged in Hong Kong exceeded $80 billion," Chan said. "In terms of the amount of international green bond issued, we are No. 1 in Asia."

As part of the 20th anniversary global conference series of the IFF, the conference invited political dignitaries, financial authorities, academics as well as executives from the finance sector to join two sessions in discussing topics including enhancing global cooperation, monetary policies, the challenges and opportunities for Hong Kong and the Greater Bay Area as a whole. The IFF also launched its Hong Kong Center during the conference.