Financial Secretary Paul Chan Mo-po arrived in Italy on Sunday and attended the 58th Annual Meeting of the Asian Development Bank, which included discussions on navigating the current economic risks and uncertainties in the region.

The ADB’s Constituency Meeting, held in Milan, also discussed sharing cooperation experiences between the ADB and member economies, optimizing resource utilization, and providing technical assistance and capacity building.

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Chan said that Hong Kong, China welcomes the ADB's strengthened support for developing economies in addressing climate change, developing the private sector, and promoting regional cooperation and digital transformation, among others.

Moreover, the special administrative region supports enhancing technical assistance to developing member economies to improve the effectiveness of development projects, Chan said.

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As an international financial center, Hong Kong is willing to continue sharing knowledge and experiences with other members in areas such as establishing capital markets, promoting green transition and green finance development, and infrastructure financing, he added.

Chan also met with Rachel Thompson, the director representing Hong Kong, China's constituency in the ADB Board of Directors, to discuss how Hong Kong can better assist the ADB in the issuance of insurance-linked securities, including catastrophe bonds.

On Sunday evening, Chan attended a reception organized by Italy, the host country of the annual meeting.