Published: 13:13, May 3, 2024 | Updated: 15:06, May 3, 2024
Chan: HK a leader in Asia in green sustainable finance
By Wang Zhan
Financial Secretary Paul Chan meets Asian Development Bank President Masatsugu Asakawa in Tbilisi, Georgia, May 2, 2024. (PHOTO / HKSAR GOVT)

HONG KONG – As an international financial center, Hong Kong is a leader in Asia in green and sustainable finance, the city’s finance chief said on Thursday.

Paul Chan Mo-po made the statement while exchanging views with the president of the Asian Development Bank, Masatsugu Asakawa in Tbilisi, Georgia on various issues, including regional green transition, climate finance, infrastructure development, and strengthening cooperation between Hong Kong and the ADB.

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The financial secretary arrived in Georgia Thursday afternoon to attend the 57th Annual Meeting of the ADB Board of Governors from May 2 to 5.

While meeting the needs of different investors, these also help channel funds to support regional green and transition projects more effectively, said Chan

Chan highlighted that the Hong Kong Special Administrative Region accounts for over one-third of all the green bonds issued in Asia.

The HKSAR continues to enrich its variety of green financial products, which channel funds to projects that support the region’s green transition, he said.

While meeting the needs of different investors, these also help channel funds to support regional green and transition projects more effectively, he added.

Stressing that Hong Kong has long maintained a relationship of cordial cooperation with the ADB, Chan said the city is willing to share knowledge and collaborate with the bank and other regional partners, particularly in the areas of finance, infrastructure development and innovative technology applications.

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He also invited the bank and regional partners to make use of SAR’s fundraising platforms and professional services to support the roll-out and management of different projects.

Hong Kong Financial Secretary Paul Chan M-po speaks at the Asian Development Fund 14 Pledging Meeting in Tbilisi, Georgia, May 2, 2024. (PHOTO / HKSAR GOVT)

Chan later attended a pledging meeting of the Asian Development Fund.

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He said Hong Kong has supported replenishments of the fund over many years, with a view to helping developing member countries carry out sustainable development projects, which include projects that respond to climate change, promote gender equality, and advance social development.

The city will continue to contribute to the region's development and progress, added the finance chief.