The Financial Secretary, Mr John C Tsang, in Lima, Peru, on October 14 (Lima time) attended the Asia-Pacific Economic Cooperation (APEC) Finance Ministers' Meeting (FMM).

     At the Finance Ministers' Retreat, the participants discussed the challenges facing the global economy, as well as the importance and effects of structural reforms on economic growth.

     Mr Tsang also held bilateral meetings with his counterparts from Indonesia and Peru on October 14 (Lima time). He first met the Vice Minister of Finance of Indonesia, Professor Mardiasmo and exchanged views on issues of common interest.
 
     Mr Tsang then met the Minister of Economy and Finance of Peru, Mr Alfredo Thorne. Mr Tsang introduced the work of the Infrastructure Financing and Facilitation Office newly set up under the Hong Kong Monetary Authority, and the parties looked forward to strengthening co-operation in infrastructure financing.
 
     On October 13 (Lima time), Mr Tsang met with the Governor of the Central Reserve Bank of Peru, Mr Julio Velarde, as well as senior management of two international banks in Peru. Mr Tsang highlighted that Hong Kong is currently the world's leading offshore Renminbi business hub with the largest offshore Renminbi liquidity pool. Following the inclusion of Renminbi in the basket of the International Monetary Fund's Special Drawing Rights, the Renminbi will play a more central role in international trade transactions in the days to come.  He encouraged the banks in Peru to make good use of Hong Kong’s platform in exploring Renminbi business opportunities.
 
     He also called on the Chinese Ambassador to Peru, Mr Jia Guide on October 13 (Lima time).
 
     On October 15 (Lima time), Mr Tsang will attend various sessions of the APEC FMM.

Ends/Saturday, October 15, 2016
Issued at HKT 14:50

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