Financial Secretary John Tsang met US Secretary of the Treasury Jacob Lew in Washington for talks on the global economic performance and Hong Kong's financial situation.
Mr Tsang also spoke on Hong Kong’s major developments, business opportunities and unique advantages for entrepreneurs at an HSBC luncheon.
He said the twin engines of China and the world are helping Hong Kong's rise as a premier asset management centre in the region, adding that last year, the combined fund-management business hit a record high of more than US$2.2 trillion.
Mr Tsang noted that the Mutual Recognition of Funds initiative between Mainland China and Hong Kong became operational in July, allowing Mainland and Hong Kong funds to be offered directly to retail investors in each other's markets.
"Hong Kong has been responsible for the lion's share of renminbi trade settlement since its beginnings in 2009. The amount handled by banks in Hong Kong last year came in at about RMB6.3 trillion, an increase of 63%, year on year," he added.
Mr Tsang also met with Council of Economic Advisers Chairman Jason Furman to discuss the global economic outlook.
