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FS attends APEC meeting

October 15, 2016
Fiscal friendship

Fiscal friendship:  Financial Secretary John Tsang meets Peru's Minister of Economy & Finance Alfredo Thorne in Lima .

Financial Secretary John Tsang attended the Asia-Pacific Economic Co-operation Finance Ministers' Meeting in Lima yesterday.

 

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 held bilateral meetings with Indonesia's Vice Minister of Finance Prof Mardiasmo and Peru's Minister of Economy & Finance Alfredo Thorne, and introduced the work of the Infrastructure Financing & Facilitation Office newly set up under the Hong Kong Monetary Authority.

 

On October 13 Mr Tsang met Central Reserve Bank of Peru Governor Julio Velarde and the senior management of two international banks in Peru.

 

Mr Tsang said Hong Kong is 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, he said the renminbi will play a more central role in international trade transactions.

 

He encouraged Peru's banks to make good use of Hong Kong’s platform in exploring renminbi business opportunities.

 

Mr Tsang also called on the Chinese Ambassador to Peru Jia Guide.

 

Mr Tsang will attend various sessions of the APEC Finance Ministers' Meeting today.



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