As Hong Kong prepares to hold the 33rd Asia-Pacific Economic Cooperation Finance Ministerial Meeting for the first time next week, the special administrative region aims to make a greater contribution to drive efficient capital flow against global economic headwinds and the impact of artificial intelligence, Financial Secretary Paul Chan Mo-po said on Sunday.

Writing in his weekly blog, Chan said efficient financial support is one of the key factors in driving economic transition and sustaining employment with the leverage of technology, and Hong Kong would focus its efforts on three areas -- facilitating long-term capital, broadening the range of available currencies, and risk management.

“These twin forces -- the energy price spikes and a global AI boom -- are reshaping the global economic landscape,” he said. “Efficient international financial markets could serve as a powerful engine to empower the development of the real economy.”

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In the first nine months of the year, the SAR had raised nearly $50 billion through initial public offerings – doubling the figure from the same period in 2025 and surpassing the last year’s total amount. Meanwhile, green and sustainable debt issuances in the city reached $77 billion last year, ranking Hong Kong first in Asia for green bond volume.

In terms of broadening the range of currencies, Hong Kong is providing unique solutions through renminbi internationalization, Chan said. The city offers diversified investment products, risk management tools, and liquidity arrangements for Global South countries that hold renminbi reserves through trades.

Furthermore, fueled by risk-hedging needs and relatively low renminbi interest rates, more developing economies are tapping Hong Kong’s renminbi bond market, according to Chan. Hong Kong’s dim sum bond market leads the world with nearly 1.9 trillion yuan ($284 billion) in total outstanding volume, with annual issuances that had topped one trillion yuan in the past two successive years.

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“With its robust capital-raising capabilities, Hong Kong is well-placed to finance AI infrastructure across developing economies, while facilitating technology transfer and workforce training to ensure AI solutions remain affordable,” he said.

The finance chief said as technology amplifies advantages, it may also exacerbate existing risk. While AI-related products contributed to nearly 30 percent of global import growth in the past two years, the technological advancement has created a massive employment gap.

Global economic growth is projected to slow from 3.5 percent last year to 3.1 percent in 2026, while showing a profoundly uneven distribution and widening polarization, according to the latest forecast from the International Monetary Fund.

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Raised in the city’s first Five-Year Plan for Economic and Social Development (2026-30) and the 2026 Policy Address, Hong Kong is promoting city-wide AI upskilling campaigns to enable citizens of all ages and backgrounds to become more proficient in using AI.

As for the upcoming APEC Finance Ministerial Meeting to be held in Hong Kong from Oct 20 to 21, Chan noted it’ll bring together global political and business leaders for in-depth exchanges and discussions on both opportunities and challenges brought by technology innovation.

Contact the writer at rayjia@chinadailyhk.com