The city will host the APEC Business Advisory Council (ABAC) meeting from April 22 to 25. About 200 delegates from across the region, as well as China and the United States, will visit Hong Kong for the first time since 2015.
“Beyond just looking at Hong Kong as a financial center, we want to: [Apec delegates] It will change the way we look at Hong Kong,” said Nisa Leung, managing partner at Qiming Venture Partners and one of ABAC's Hong Kong representatives.
Culture, innovation and sustainability are some of the areas that will be emphasized, she added.
Towards this end, the Hong Kong government announced a number of innovation and technology initiatives in the budget, along with various funding schemes to promote a vibrant and diversified economy, making Hong Kong a global technology leader. He promised continued support to turn it into a hub.
The government has committed HK$24 billion (US$3.07 billion) to boost the technology-led economy in this year's budget and extended the Green and Sustainable Finance Subsidy Scheme until 2027.
Founded in 1996, ABAC advises economic leaders, ministers, and government officials in APEC, an intergovernmental organization aimed at promoting free trade among its 21 member countries in the Asia-Pacific region, plus China and the United States. It is an advisory body that provides .
ABAC members are appointed by their respective economic leaders and represent a wide range of business sectors, including micro, small and medium enterprises.
The council is made up of up to three private sector members from each economy and meets four times a year. ABAC's other two representatives from Hong Kong are Esquel Group Chairman Marjorie Yang and Standard Chartered Hong Kong CEO Mary Huen Wai Yi.
Treasury Secretary vows to seize APEC opportunity to attract more US companies to Hong Kong
Treasury Secretary vows to seize APEC opportunity to attract more US companies to Hong Kong
“This is a very good opportunity to welcome our good friends to Hong Kong, help them understand Hong Kong better, and let them make their own decisions,” Yang said.
“Now is the time for the entire Asia-Pacific region to work together to get out of the predicament. The economy is very fragile, so it would be best if we could work together to promote regional economic development.”
This year's ABAC theme is 'People, Business, Prosperity', with the council's focus on key issues such as trade and investment facilitation, digital transformation, sustainability and inclusion, according to a Government Department of Trade and Industry spokesperson. A department whose purpose is to guide efforts.
“Many of the initiatives at ABAC resonate with the policy priorities of the Hong Kong Special Administrative Region, and indeed Hong Kong has many good stories to tell,” the spokesperson said.
“In addition to the ABAC conference, participants will have the opportunity to see for themselves the city's development in various aspects such as logistics, smart healthcare, conservation, innovation and technology development, and to share their views with business leaders. You will have the opportunity to exchange associations and professional bodies.
