Secretary for Justice Teresa Cheng today attended the Asia-Pacific Economic Cooperation's (APEC) virtual Structural Reform Ministerial Meeting to discuss the region's structural policy response to COVID-19.

Ms Cheng said that for economic development to be sustainable, it is important to have a comprehensive legal framework and good regulatory practices conducive to sustainable growth.

She also highlighted that Vision 2030 for Rule of Law launched by the Department of Justice last year is an initiative inspired by the United Nations 2030 Agenda for Sustainable Development.

The justice chief emphasised that Hong Kong is committed to supporting APEC economies' sustainable growth and sharing experiences in working as a green finance and deal-making centre.

The city has various initiatives to support green technology, innovation and green finance, she added.

These include the Green Tech Fund, the Government Green Bond Programme, the Green & Sustainable Finance Grant Scheme, the COVID-19 Online Dispute Resolution (ODR) Scheme which is in line with the APEC Collaborative Framework for ODR of Cross-Border Business-to-Business Disputes, and the possible collaboration with the United Nations Commission on International Trade Law to aid further studies on ODR to accelerate digital innovation.

Additionally, Ms Cheng showed her support for the Enhanced APEC Agenda for Structural Reform, the third Ease of Doing Business Action Plan and the 2022 APEC Economic Policy Report on structural reform and a green recovery from economic shocks referred to at the meeting.

She also mentioned the memorandum of understanding recently signed by Hong Kong and APEC for supporting the creation of the Strengthening Economic Legal Infrastructure sub-fund, adding that she hopes all APEC economies can benefit from the sub-fund in their structural reform work.