The Financial Secretary, Mr Paul Chan, attended the Plenary Session of the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group in Washington, DC, the United States (US) this morning (October 13, Washington, DC, time), as a member of the Chinese delegation.

     The Annual Meetings bring together finance ministers, leaders of central banks and senior management of banks and financial institutions from around the world to discuss issues related to global economic and financial development. 

     Before the Plenary Session, Mr Chan had a breakfast meeting with the Director of the Center for Data Analysis and the Center for Trade and Economics of the Heritage Foundation, Mr Terry Miller.

     Mr Chan thanked the Heritage Foundation for naming Hong Kong the world's freest economy for 23 consecutive years. He said that an open and free market is vital for Hong Kong's sustained economic prosperity and competitiveness. Hong Kong is committed in upholding economic freedom, and in maintaining a favourable business environment and a level playing field for all businesses. 

     Following that was a meeting with US Secretary of Commerce, Mr Wilbur Ross. Mr Chan said that Hong Kong and the US enjoy close economic and trade ties. The US is Hong Kong's the second largest trading partner and Hong Kong is the ninth largest export market for US goods.  Hong Kong, being an international financial and trade centre as well as an important gateway leading to the Mainland of China, can help US enterprises tap the massive potential of the Mainland market and create more business opportunities.

     Speaking at a book launch event organised by the Cato Institute, Mr Chan shared with the audience the economic achievements of Hong Kong since the reunification with the motherland and the opportunities ahead.

     In the afternoon, he had meetings with the US Under Secretary of the Treasury for Terrorism and Financial Intelligence, Ms Sigal Mandelker, and the Managing Director and Chief Administrative Officer of the World Bank Group, Mr Yang Shaolin. Mr Chan exchanged views with them on matters of mutual interest.

     He then met with the Chair of the Board of Governors of the US Federal Reserve System, Dr Janet Yellen. He provided an update of Hong Kong's economic situation to Dr Yellen and they discussed a wide range of issues, including US monetary policy and the global economic outlook.

     Tomorrow (October 14, Washington, DC, time), Mr Chan will continue his visit in Washington, DC, and have meetings with senior management of multinationals banks and financial institutions.

Ends/Saturday, October 14, 2017
Issued at HKT 8:55

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