On day three of the Annual Meeting of the Asian Development Bank (ADB) in Milan, Italy, Financial Secretary Paul Chan spoke at the Governors’ Plenary and met ADB President Masato Kanda.
The Governors’ Plenary focused on promoting regional economic integration in the Asia-Pacific through digital transformation.
Mr Chan noted that digital transformation is accelerating at an unprecedented pace; however, the region is facing a digital divide, and the trade war is likely to extend into the technology sector, thereby exacerbating digital fragmentation. Consequently, he stressed that ADB members should work together to address these challenges and strengthen co-operation on digitalisation.
He also shared Hong Kong’s strategy and action plan for digital transformation, which includes advancing digital infrastructure, facilitating digital transformation and cross-boundary data flow, and nurturing talent.
Furthermore, Mr Chan introduced Hong Kong’s strategy of using artificial intelligence to empower digital development and support small and medium-sized enterprises in their digital transformation.
Urging ADB members to collaborate on enhancing digital governance and nurturing talent, Mr Chan said Hong Kong is willing to share its experiences and technological solutions with other members to seize the vast opportunities presented by digital transformation and promote sustainable development in the region.
While meeting Mr Kanda on the same day, they exchanged views on the international economic landscape and regional development issues.
Mr Chan stated that Hong Kong supports the ADB’s work and is willing to share its experiences in areas such as financial innovation, infrastructure financing, green finance as well as innovation and technology (I&T). He also emphasised the importance of strengthening personnel training and exchanges with the ADB.
Yesterday, Mr Chan met Uzbekistan’s First Deputy Minister of Economy & Finance Ilhom Norqulov and Tajikistan’s State Committee on Investments & State Property Management Chairman Sulton Rahimzoda to discuss mutual co-operation.
In addition to highlighting that as an international financial centre, Hong Kong can effectively match funds with infrastructure projects in both countries, provide relevant professional services and support the operation of projects, the Financial Secretary underscored that there is significant potential for co-operation in I&T.
As a result, the Financial Secretary invited delegations from both countries to visit Hong Kong to connect with local industries and explore collaboration opportunities.
Mr Chan is due to depart for Hong Kong today and will arrive in the city on May 8.
