APEC finance ministers agree to boost policy coordination, China's Lan says

Finance ministers from member ​economies in the ‌Asia-Pacific Economic ​Cooperation (APEC) forum have agreed to strengthen macroeconomic policy communication and coordination to address ‌external risks and challenges, Chinese Minister of Finance Lan Foan said on Wednesday. At the conclusion of the ministers' meeting in Hong ‌Kong, they also reached a consensus on promoting practical ‌cooperation in the financial sector, which focused on supporting people's livelihoods, digital infrastructure financing and locally adapted measures for inclusive finance development, Lan said ⁠at a ​briefing.

Separately, a policy ⁠statement was released on digital infrastructure financing for the Asia-Pacific region, ⁠aimed at supporting regional trade, economic connectivity and enhancing economic opportunities. "We encourage ​member economies to develop reliable, accessible, scalable, trusted, secure and ⁠resilient digital infrastructure; enhance digital literacy and skills; promote interoperability; and cross-border digital ⁠connectivity ​to accelerate the digital transformation in the Asia-Pacific region," it said.

Ministers also sought deeper collaboration between the public sector, ⁠the private sector and multilateral development banks to foster innovation and ⁠risk ⁠mitigation, it said.