Secretary for Financial Services & the Treasury Christopher Hui attended the Eighth Annual Meeting of the Board of Governors of the Asian Infrastructure Investment Bank (AIIB) in Sharm El Sheikh, Egypt, yesterday.
 
In addition, he met other financial officials attending the annual meeting to strengthen co-operation between Hong Kong and other places.
 
Speaking during a discussion on the topic of Low Carbon Development - Supporting a Just & Effective Transition at the Governors' Business Roundtable in the afternoon, Mr Hui shared how Hong Kong could facilitate the transition in terms of low-carbon development in three ways.
 
These include a clear goal of achieving carbon emission reduction by 50% before 2035 and achieving carbon neutrality by 2050; having the right tool for issuing green and sustainable bonds as well as carbon credit trading; and having great minds to fulfil the talent need in response to the new trend of developing a low carbon and sustainable economy.
 
Furthermore, Mr Hui met AIIB Investment Operations (Region 1) Vice President Urjit R. Patel and AIIB Investment Operations (Region 2) Vice President Konstantin Limitovskiy.
 
He shared with the two vice presidents Hong Kong's strengths in infrastructure financing, including issuances of green and sustainable bonds and the provision of a carbon credit trading platform.
 
In the meeting with AIIB Chief Financial Officer Andrew Cross, Mr Hui briefed him on the latest development of security market, risk management and wealth management in Hong Kong.
 
On the sidelines of the annual meeting, Mr Hui met the Sri Lanka delegation led by Sri Lanka Secretary to the Treasury, Ministry of Finance K M Mahinda Siriwardana. The two sides discussed how to foster closer economic and trade ties.
 
Mr Hui will meet Egypt Minister of International Cooperation Rania A. Al-Mashat, and Saudi Arabia Assistant Minister of Finance for Macro-Fiscal Policies & International Relations Abdulmuhsen Alkhalaf before concluding his visit to the Egyptian city.